ECONOMY

Greece’s annual deflation at 2% in January

greece-s-annual-deflation-at-2-in-january

Greece’s consumer price index recorded a 2% decline in January, the Hellenic Statistical Authority (ELSTAT) reported on Monday, against an increase of 0.9% a year earlier.

On a monthly basis the index decreased 1.3% from December 2020.

The European Union-harmonized index recorded a drop of 2.4% year-on-year, compared to 1.1% growth a year earlier.

The decline on an annual basis is mainly attributed to the 5.7% drop in transport prices, the 3.5% decrease in apparel and the 3.4% contraction in housing costs.