Drop in CPI eased in Feb but Greece still firmly in deflation territory

EconomyMacroeconomy Tags: CPI, ELSTAT
Photo by MacroPolis
Photo by MacroPolis

The drop in Greece’s Consumer Price Index (CPI) slowed further in February to 1.1 percent from 1.5 percent in January, according to the Hellenic Statistical Authority (ELSTAT).

On a monthly basis, the CPI eased 1.3 percent mainly on the back of an 18.8 percent drop in clothing and footwear prices, which came about due to the winter sales period that began in mid-January and lasted until the end of February.

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