Price hikes eat into households’ disposable incomes

Price hikes eat into households’ disposable incomes

The recent rise in retail prices has had a significant impact on households – reducing their purchasing power – as well as on employment, according to the Labor Institute of the General Confederation of Greek Labor (INE GSEE).

In a report it noted that the price hikes have eaten into 10.4% of the minimum salary, while in the case of part-time workers the hikes have amounted to 13.7% of their average salaries.

On an annual basis, households’ average monthly disposable income suffered a 7% reduction in December 2021, causing the institute’s analysts to speak of a “toxic cocktail” of price increases with the health crisis and the effects of the fiscal adjustment.



Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.