ELSTAT Says Prices of Goods At 30-yr Low - (Yeah Right)

A percent sign. (Photo credit: Wikipedia)

This report by ELSTAT is a total farce... and certainly the people who published this report really need to get their facts straight, as well as get their heads examined. Then again... If they were successful in playing with the figures to get us bound and gagged to the Memorandums then who is to say that they are not doing the same now? Prices have not fallen slightly, but certainly they are not at a 30-yr low. The announcement by ELSTAT is a lie and the best example of this is to compare the cost of parsley 10 years ago which was .30 drachmas to the cost of parsley today which is .30 cents. This is a 300 percent increase... And let us not even touch the subject of meat, eggs, milk and bread.

According to a report by Greece’s Hellenic Statistical Authority (ELSTAT), prices of goods in Greece, from milk and bread to medicine have fallen by 2.0 percent in October, and are now at their lowest since 1962. Only the price of alcohol and tobacco increased in the last year. Consumer prices in Greece plummeted 2.0 percent year-on-year in October 2013, according to

Since 2012, the price of education dropped 4.24 percent, the cost of communication fell 4.2 percent, prices for transport decreased 3.5 percent, recreation and culture prices were down 3.0 percent, and household prices deflated 2.3 percent. Clothing and footwear prices fell 1.1 percent, as did healthcare.

 The only thing that became more expensive in Greece over the year was alcohol and tobacco products, products which prices inflated 3.5 percent year-on-year in October.

The figures showed October inflation among the 28-member EU down 0.7 year-on-year from the October reading of 1.1 percent, which was the lowest since November 2009. Such a shock slump drove the EU even further from the targeted 2 percent inflation and pushed the European Central Bank to cut interests rate to a new record low of 0.25 percent.