January inflation slightly down

Inflation was slightly down to 2.3 percent in January 2012 compared to 2.4 percent in December 2011, according to data released by the Hellenic Statistical Authority on Thursday, with the sales and a small drop in the price of basic consumer goods believed to be the main reason.

In contrast, an increase of 8.5 percent in household expenditures is believed to be due to hikes the price of electricity and heating oil.

Other price increases recorded were 4.1 percent on alcoholic beverages and tobacco products, 3 percent on food and non-alcoholic beverages, 2.8 percent on transportation, 2.5 percent on hotels, restaurants and bars, 0.4 percent on clothing and footwear, and 1.7 percent on other goods and services.

In contrast, the prices of non-perishable goods and households goods and services receded by 1.5 percent, recreation and cultural activities were down by 0.8 percent and health costs were also reduced by 0.5 percent thanks to a drop in the cost of medicines.