Inflation jumped to 5.1% due to sharp increases in natural gas and electricity prices. A significant increase in food prices has been recorded. In particular, a comparison of the overall consumer price index for December 2021 with the corresponding index for December 2020 showed an increase of 5.1%, compared with a decrease of 2.3%, which […]
The minimum wage for staff and workers will rise by a “record” 2% from January 1, 2022, the Greek Labor Ministry happily announced on Monday following a decision by Labor and Social Affairs Minister Kostis Hattsidakis. The decision follows the approval of the cabinet in July. According to the ministry, the statutory minimum wage for […]
The fall of the Turkish lira caused an influx of citizens from neighboring countries – the Greeks and Bulgarians went to buy New Year’s gifts. At the end of December, the Turkish currency showed a historical minimum – one US dollar was worth 18 lira and 36 kurus. Well, how can you not take advantage […]
Six out of ten Greeks say they will spend much less on Christmas shopping than they did last year. The reason is rising prices and higher energy costs, as well as fears of contracting the coronavirus. Changes in consumer buying habits over the past year, the impact of inflationary pressures on disposable income and, as […]
In November, prices increased by 4.8% compared to the corresponding month of 2020. Energy and basic necessities prices soared. The wave of inflation is taking on nightmarish proportions: from month to month, literally everything is getting more expensive. According to data from the Greek Statistical Office for November, the consumer price index rose 4.8% compared […]
Prices in Greece are skyrocketing, reaching 180% and breaking the record for inflation. According to data for November this year, inflation reached 4.8%, which is the average for the euro area. Compared to November 2020, prices have increased: for gas by 180%, for heating oil by 45.2%, for electricity by 37.8%. Lamb and goat meat […]
Eurostat forecasts Greece’s inflation to rise to 4.3% in November, up from 2.8% in October, with the country following the eurozone inflation trend, where the consensus CPI (consumer price index) at the end of the month is expected to rise to 4. 9% from 4.1% in October. Despite significant growth from month to month, Greece […]
Inflation appears to be of great concern to the country’s government, which is looking for a way out to mitigate the impact the price hike will have on both the economy and households ahead of the tough winter ahead. Deputy Finance Minister Theodoros Skilakakis notes that “the rise in prices for fuel and raw materials, […]
“Highest US inflation in three decades,” the Financial Times wrote on its front page today, recording the shock of a 6.2% price hike in October, the largest in 31 years. “This issue is a priority for Biden,” the message says. In turn, Reuters caused a wave of concern in Europe with the release of inflation […]