ECONOMY

FinMin: New support measures to offset price hikes

finmin-new-support-measures-to-offset-price-hikes

The Greek government is planning an additional package of measures to help households and businesses deal with price increases and an anticipated rise in inflation, Finance Minister Christos Staikouras said on Tuesday. 

“We are planning a raft of interventions,” he said in comments to Skai television, though he did not clarify what these interventions will entail and when they would go into effect.

Staikouras acknowledged that the wave of price hikes on basic commodities is more acute and will last longer than originally anticipated, but added that the phenomenon is expected to be transitory and that the increases in the cost of goods and services will start easing by the second quarter of 2022. 

He also warned that the inflation rate in December will be even higher than in November, “probably above 5%.”