ECONOMY

Inflation hits record low

The rate of the Greek Consumer Price Index declined to just 0.1 percent last month, compared with February 2012, hitting a low unseen since June 1968, according to figures released on Friday by the Hellenic Statistical Authority (ELSTAT).

On a monthly basis, inflation was 1.6 percent negative, helped by the winter sales

In January the rate had stood at 0.2 percent, with February being the third consecutive month with inflation below the 1 percent level and on a declining trajectory, creating expectations of a real drop in prices that would offer a degree of relief to households and consumers.

Nevertheless, the prices of certain commodities continue to soar. These include air tickets, which grew 32.1 percent within a year, heating oil (up 31.3 percent), potatoes (25 percent) and electricity charges (12.3 percent).

The biggest price drop was in medicines (14.6 percent), fruit juice (8.4 percent) and domestic services (7.3 percent).