Inflation Drops in Greece

oikonomia1(GREEK NEWS AGENDA)   Inflation dropped to 1.8% in January on an annual basis, its lowest rate in more that 40 years, and is likely to remain at this level this month, according to the National Statistics Service, which reported that inflation in January dropped from 2% in December, mostly due to lower heating oil and gasoline prices. The inflation rate was 3.9% in January 2008.  January’s decline was in line with eurozone price trends. Inflation in the 16 countries that have adopted the euro fell to 1.1% in January, a decade low, boosting pressure on the European Central Bank to cut interest rates as price growth is now below its target. Ministry of Economy and Finance: Economic and Financial Data for Greece