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Tag Archives: consumer prices

Special consumption fees bring back Inflation

Special consumption fees imposed on fuel, coffee, tobacco products and telecommunications beginning of the year skyrocketed consumer prices and led to the inevitable: inflation. According to Greek Statistics Authority ELSTAT inflation reached 1.5% in January from 0.3% in December. ‘This is almost a five-year high and above market expectations that …

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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 …

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IMF Opposes “Special Economic Zones” in Greece!?

International Monetary Fund is allegedly against the establishment of “special economic zones” (SEZ) in debt-ridden Greece. This follows on a news posted in a Greek economic news portal about the meeting of Greek Development Minister Costis Chatzidakis with the representatives of IMF, EU and ECB – the Troika – on Tuesday. Taking into consideration …

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Start Saving Money! New VAT hikes are coming….

You’d better start saving money! Either to be able to pay the VAT hikes or to leave the country. As of January 1, 2011 dozens of everyday commodities, including food items,  are set for price rises as the government will increase the Value-Added Tax. The Finance Ministry is preparing a draft …

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