According to the data of the Hellenic Statistical Authority, the consumer prices dropped 2.1% on year in April. The April prices declined 1.8% in regard to the March drop of 1.9%. So the deflation rates slowed down.
By the EU standards, a special inflation that lasted for 26 months took place in Greece due to cut in wages and pensions, and deep recession that put a negative pressure on the country’s economy. In November 2013, deflation reached its highest level when consumer prices fell 2.9% on a yearly basis.
Finance minister of Greece Yanis Varoufakis supposes that the creditors are not able to believe in the economic recovery of the country owing to imperceptible progress in protracted negotiations between Athens, the IMF, EU, and ECB. The politician thinks that the parties have completely forgotten about the plan of the Greek economic recovery shifting focus on the terms that have to be met in order to receive financial aid.
The official also points out that the program of Greece’s economic revival should be developed carefully to handle the current dead end.
