ECONOMY

Prices posted further drop last month

Prices continued to fall for the second month in succession in April as Hellenic Statistical Authority (ELSTAT) data issued on Friday on the consumer price index showed a 0.6 percent reduction compared with April 2012.

The price drop was mainly due to the fall in service rates, as the prices of many basic food commodities and broad consumption goods continued to grow. Compared with March 2013, prices rose 0.5 percent, mostly due to Easter, ahead of which the prices of potatoes, vegetables and lamb jump on increased demand. In contrast, there has been a drop in transport costs, as the prices of both fuel and new cars have posted a decline.

On a yearly basis, the price of heating oil rose 25.1 percent due to the increased tax, and electricity rates climbed 12.5 percent.

Meanwhile, industrial output fell 0.7 percent year-on-year in March after a downwardly revised 4.3 percent drop in the previous month, ELSTAT said on Friday.