The standard of living of vulnerable households has suffered a setback for the period 2021-2023, despite the rise in minimum wages, as outlined in the interim report from the labor institute of the General Confederation of Greek Workers (GSEE).
Notable reductions are evident in energy consumption (heating, natural gas, electricity), while the most economically challenged households are cutting back on vegetables, fish, and pasta.
Attempting to limit essential goods like bread proved challenging, leading to increased financial strain due to rising prices. There has been a significant drop in meat consumption across all households, and the impact of inflation on cheese consumption has been particularly high.
GSEE President Giannis Panagopoulos, addressing the recent General Council meeting, highlighted that inflation surged to 31.2% in food and non-alcoholic beverages. Increases in electricity, natural gas, and other fuels reached 39.1%, rents rose by 8.3%, and other goods and services related to housing repair and maintenance by 7.9%.
According to the data, Greeks rank last in per capita income purchasing power, coupled with the sixth-highest indirect tax burden in the European Union. It is noteworthy that the purchasing power of the minimum wage in October 2023 equaled that of 2015.
The General Confederation of Greek Workers has declared a general strike for April 17, with the main demand being an increase in all wages beyond the minimum wage.
Source: tovima.com
Latest News
Which Islands Will Have Italians Flocking to Greece this Summer?
Well-known Italian travel magazine details reasons why Skopelos, Naxos and Astypalaia are the go-to summer destinations for Italians
Antentokounmpo 5th Highest Paid Athlete in World
The basketball player rakes in 111 million dollars per year, between his salary at the Bucks and endorsements from big brands like Amazon, Nike and Pepsi
Greek FM Gerapetritis: Need to Immediately End Gaza Hostilities
Gerapetritis added that a humanitarian crisis was transpiring in Gaza, with the concerns now being spillover in the wider Middle East.
ETC Report: Greece 3rd Most Popular Destination for Europeans
Italy and Spain are tied as the top destinations, each attracting 8% of travelers
Greece Battles EC to Protect Rice Industry and Public Health
Together with several other EU countries, Greece successfully blocked the European Commission's proposal to increase allowable levels of a banned pesticide commonly found in rice imported from southeast Asia
Eurostat: 3.2% Annual Inflation in Greece in April
The data shows that Greece ranks seventh in overall inflation within the eurozone and second in food inflation
Intrum’s 2024 Report Unveils Greek Businesses Embrace Digitalization for Growth
Looking ahead, over 40% of businesses prioritize development for 2024, with 65% recognizing the potential of digital business models as sustainable investments
IOBE: Mild Drop in April Business Confidence Index (BCI) in Greece
The positive balance of expectations for employment witnessed a marginal decline, while the index for production forecasts also recorded a mild drop
Greek PM Mitsotakis Calls on EU to Intervene Over Multinationals’ Pricing Policy
Speaking about price fairness, the Prime Minister emphasized, "Europe should also mean similar or uniform prices for the products sold by our multinational corporations.
Greenhouse Gas Emissions: 4% Decrease in EU, 0.3% Rise in Greece in Q4 2023
The EU's GDP remained stable with a marginal 0.2% increase in fourth quarter of 2023