BUSINESS

Greeks cutting down on food due to overtaxation

TAGS: Economy, Food, Society

Overtaxation has forced Greeks to cut down on grocery spending, as IRI Hellas researchers have found that supermarket sales in the January-September 2017 period were 6.7 percent below the level recorded two years earlier and 7.4 percent below the 2014 level.

Consumers have become bargain hunters out of necessity, not only because of the proliferation of special offers at supermarket but also due to the hikes in value-added tax and the special consumption taxes on most everyday products, on top of the direct tax obligations that households have to meet.

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