This spring’s midterm sales that ended last weekend proved unable to reverse the negative sentiment in the market since the outbreak of the war in Ukraine, which has increased inflationary pressures

This spring’s midterm sales that ended last weekend proved unable to reverse the negative sentiment in the market since the outbreak of the war in Ukraine, which has increased inflationary pressures

The wave of price hikes is forcing households to ditch spending on apparel, homeware and other non-essential purchases and redirect that income to power bills and other basic needs.

“Unfortunately activity was particularly subdued in Athens,” according to Athens Traders Association chief Stavros Kafounis. “The market did not work, even though in April there had been some encouraging signs. People were far too reserved,” a senior retail chain official told Kathimerini.

The sales market was quiet even though it was the first time after over two years that there was no restrictions on the number of people in stores or obligation to show a vaccination or test certificate.

It appears that this was the last midterm sales, as the intention of the Development Ministry is to abolish the spring and fall windows. The minister has assured market officials that an upcoming bill will provide for the end of the two small sales periods.

SEARCH

[%EVENTS_SIDEBAR%]
Previous Next
Close
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.