BUSINESS

Greeks slash spending on groceries by some 20 pct, study finds

TAGS: Economy

Greeks have reduced their spending on grocery goods by about 20 percent since the beginning of the financial crisis, changing purchasing as well as dietary habits under the pressure of tax hikes and shrinking incomes, according to the results of a survey released this week in Athens.

The amount spent by the average Greek household on grocery goods fell by 21.7 percent from 2009 to 2016, according to the estimates of the Greek Research Institute of Retail Consumer Goods (IELKA).

The study found that the average Greek household spent 5,578 euros on grocery goods in 2009, while by 2016 this figure had fallen 1,211 euros, to 4,367 euros. [Xinhua]

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