Retail prices still offering consumers some relief

Retail prices eased for the 15th month in a row, offering consumers a breather according to Hellenic Statistical Authority data for May, when prices in the country dropped 2 percent on a yearly basis.

The figures released on Tuesday showed that the most significant price reductions concerned potatoes, fresh fruit and vegetables, apparel items, natural gas and vehicle insurance rates.

The price of potatoes, which had soared during the winter, posted an 18.1 percent decline from May 2013, followed by fresh fruit (down 14.9 percent), other fresh vegetables (13.3 percent) and natural gas rates (10.9 percent). Clothing and shoes went down by 9.4 percent, home rental rates dropped 8.4 percent, sugar became 8.5 percent cheaper and entertainment services declined by 7.9 percent.

In contrast, there was an 11.7 percent rise in electricity rates, a 3.5 percent hike in hotel rates, 2 percent growth in the price of dairy products and eggs, and a 1.6 percent increase in the cost of alcoholic beverages and tobacco, mostly due to the rise in the price of cigarettes. The rise in oil prices brought about a 0.5 percent rise in the price of air tickets.