The “Godparents’ Basket” is available as of Monday, while the special “Easter Basket,” which offers traditional Easter foods at lower or unchanged prices, will come into effect on Wednesday.
INFLATION
A decade ago, Greece was in the throes of a devastating debt crisis marked by years of austerity, hardship and unrest. Now, officials and investors say 2024 could be the year its rebound is finally complete.
Lower-income households carry a far heavier burden than others due to continued price hikes.
The national inflation rate in Greece amounted to 3.2% in March climbing from 2.9% in February, the Hellenic Statistical Authority (ELSTAT) reported on Wednesday.
Last month the price of olive oil in Cyprus surged by 61.7% compared to March 2023.
Retail commerce turnover in the first quarter of 2024 was disappointing, according to traders’ estimates.
Those fined include high-profile companies FG Europe and Lidl Hellas.
Economic inequalities are increasing due to the inflation crisis, which has been ongoing since the second half of 2021 and peaked in 2022 with the start of Russia’s invasion of Ukraine, according to an Alpha Bank report.
The poorest 10% of households would have had to increase their spending by more than 16% to keep food and energy consumption constant between 2019 and February 2024.
Nicosia has unveiled a set of targeted and broad-ranging measures aimed at alleviating the financial strain on citizens, in response to concerns over price hikes.
Supermarket prices increased by 2.75% in February, down from 3% in the previous month, according to a report of prices in major retail chains by the Consumer Goods Retail Research Institute (IELKA).
Despite the increase in the minimum wage in 2023, Greece’s gross domestic product (GDP) per capita expressed in purchasing power standards is 67% of the European average, according to Eurostat.
European Central Bank policymaker Yannis Stournaras said on Tuesday that consensus was building within the European Central Bank for a rate cut in June, if inflation develops as projected.
The government is redesigning the e-katanalotis platform so that the consumer knows the exact cost of the products they want to buy at supermarkets around their home and where they will find the cheapest prices, Development Minister Kostas Skrekas said on Thursday speaking to ANT1 TV.
A 17% average decrease in starting prices for 100 menstrual products has been recorded as of Wednesday.
Katerina P. has a job that brings in around 1,500 euros a month. Up until a few years ago, this was a very decent amount that allowed her not just to survive in relative comfort, but also to have an active social life, to go out with friends for a meal or a drink, sometimes […]
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