Retail prices keep heading south

Deflation persisted for a 36th month in February, with the Hellenic Statistical Authority’s readings of the consumer price index showing a 0.5 percent average drop in prices from February 2015.

On a monthly basis deflation amounted to 0.4 percent from January 2016.

The average annual drop in the period from March 2015 to February 2016 came to 1.4 percent, after a 1.5 percent slide in prices in the 12 months before that.

Data showed a 4.7 percent decrease in the cost of accommodation, due to the drop in rental rates, heating oil, natural gas and electricity costs.