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

Posted by in Economy

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…