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Greece in Recession? Consumer Prices Rose 6.8% August 2011-2012

Remember our recent article on the 19 reasons why consumer prices in Greece remain high despite the economic crisis? According to latest data from the EUROSTAT prices not only did not drop but on the contrary:  they went up by 6.8% between August 2011 and August 2012. 

             Despite recession, Greece still among priciest countries in EU

Despite being in recession for five consecutive years, Greece remains one of the most expensive countries in the eurozone in terms of consumer prices, according to figures published by Europe’s statistical agency, Eurostat.

Milk and dairy products are 31.5 percent higher than the eurozone average, the figures show, with bread and cereals coming with a 16 percent markup for buyers and having the highest producer rates among the 17-nation bloc.

Greece is also the most expensive among its peers in the markets for furniture and electronic equipment.

According to the Development Ministry, the high cost of consumer goods can be attributed to the corresponding high cost of transportation, especially to the country’s islands, as well as high taxes, with sources suggesting that inspections will be increased to combat profiteering.

Greece’s foreign creditors have consistently pushed for measures to decrease the cost of consumer goods so that they are in line with family incomes. (ekathimerini ; also atticapress in Greek)

PS Everybody knows the gap between statistics and real life…



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  1. Not consumer prices, but industrial producer prices. That’s a big difference.

  2. keeptalkinggreece

    industrial prices are in eurostata report, consumers in the Greek Development ministry reference.

  3. cyril mc donnell

    when will greek and irish people learn to recognise who are our friends and who are enemies
    maybe when we admit the majority of us were wrong when failing to do this we can move on and hope the next generation will not turn a ‘blind eye’and support those who are truly friends of the people
    politics needs radical change and i hope the young people can bring about this for their future and their childrens13