Eurostat: Deflation in Greece at -1.8% in December

Greece recorded a deflation of -1.8% in December, according to data provided by Eurostat published today Thursday in Brussels.

Specifically, the average inflation rate in the Eurozone fell to 0.8% in December compared to 0.9% in November, while inflation in the EU remained stable at 1%.

On an annual basis (December 2012 - December 2013), Greece recorded the lowest inflation rate in the EU (-1.8%), followed by Cyprus (-1.3%), Bulgaria (-0.9%) and Latvia (-0.4%).

The highest inflation rates were recorded in Estonia, Great Britain and Austria (2%) and Finland (1.9%).

In December 2012 inflation in Greece was at 0.3%, 2.2% in the Eurozone and 2.3% in the EU.

The largest increases in the prices of goods and services in the Eurozone were recorded on an annual basis in electricity (+0.11), tobacco (+0.08) and catering (0.05). The largest decreases were recorded in telecommunications (-0.14), diesel (-0.13) and medical and paramedical services (-0.07).