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Food, housing and transport eat up most of the salaries of Greek householdssince the high cost has led to an increase in these expenses, leaving aside others such as education and entertainment.
In particular, food consumes a fifth of households' monthly expenses, and over the year expenses on food have increased by 4.5%. Overall, average annual household spending on goods and services last year was €20,223.36, which at current prices is 5.3% more than in 2022, with every second household spending more than €1,315 per month.
For households living in rented housing, rental costs accounted for an average of 16.8% of their budget. The data shows that in 2023, the largest share of the average Greek household's budget expenditure at current prices will be on food and non-alcoholic drinks (20.7%), housing (14.1%) and transport (13.1%), i.e. 47.9% of their funds will be spent on these expenses.
According to the 2023 Household Budget Survey, spending across all households has increased, leading to reductions in purchases of some items in an attempt to limit spending so households can afford to pay.
Data from the Greek Statistical Office for another year suggests that the poorest have it “harder”: households increased their spending by 8.5% compared to 2022, while spending by the richest households increased by 15.7%.
The more expensive the price increases, the more consumers limit themselves in necessary purchases. The percentage change in monthly household spending on goods and services at current prices shows that spending fell in most categories, with the largest decline in clothing purchases and the smallest in housing.
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