The Greek economy remains resilient and is expected to grow at a rate of 2% in 2024 and 2.5% in 2025 as rising employment and real wages and strong tourism boost consumption, according to the OECD’s six-monthly report. Despite the slowdown in new job growth, the employment rate and labour …

“For a series of products, fruits and vegetables, we have lower prices than last year,” Prime Minister Kyriakos Mitsotakis tweeted on Monday after a visit to the central vegetable market of Athens in Renti. “The struggle to ensure that Greek consumers enjoy quality products at reasonable prices is continuing. I …

Journalists in Greece are on a 24-hour strike on Tuesday, April 16, to protest employers’ refusal to sign collective labor agreements in privately owned media, low wages and a threat to plurality. The strike started at 5 a.m. on Tuesday and will last until 5 a.m. on Wednesday. It affects …

The fourth most expensive country worldwide in terms of food prices is Greece the latest report by the  the Organization for Economic Cooperation and Development (OECD) said. According to OECD, food inflation stood at 6.7% in February from 8.3% in January. This means that the government’s measures to combat high …

Ships and ferries throughout Greece will remain docked at the country’s port on Wednesday, April 17 following a decision by the Panhellenic Seamen’s Federation to join the 24-hour nationwide strike called by the Confederation of Employees of Greece (ADEDY). Central demands of the strike are action to deal with inflation …

Nominal wage increases should not be excessive, the Greek parliament’s Budget Office warned in a report released on Monday on the 4th quarter of 2023. The report is published after the government raised the minimum wage from 780 euros to 830 as of April 1 and while workers unions criticize …

The inflation rate for products sold in supermarket chains was at 2.75% in February 2024, according to research conducted by the Institute of Retail Consumer Goods Research (IELKA) on major supermarket chains. This figure reflects a slight decrease compared to the 3% inflation rate observed in January 2024. During February …

A 742,000-euro fine was imposed on the food company Ainos, a seller of frozen vegetables, at the orders of Development Minister Kostas Skrekas on Monday. € According to a ministry announcement, the fine was imposed for violation of article 54 of legislation passed in July 2023 for curbing unjustifiable profiteering, …

Prime Minister Kyriakos Mitsotakis heralded price reductions in 1,500 products as tomorrow,  March 1. A little later, Development Minister spoke of 3,000 products. Consumers remain cautious saying they have heard such announcements before but did not see them on supermarket shelves. Speaking at the cabinet meeting on Thursday the Premier …

The rate of price increases fell to 3.1% in January 2024 from a year earlier, Greek statistics authority ELSTAT announced on Thursday. Ιmpressive is at the same time, however, the price increase of olive oil by 67.4% within a year! The olive oil increase affects the general price index to …

Price increases have changed consumer habits in Greece, a survey by the Retail Consumer Goods Research Institute (IELKA) said on Thursday. The survey, conducted on a sample of 1,000 consumers in November 2023, showed a clear trend by consumers to save money to buy basic goods and services. Τhe pressure …

The handling of containers in Piraeus appears to have dropped by approximately 30% compared to last year, due to the ongoing crisis in the Red Sea, which has forced a very large part of the commercial ships to sail around Africa. Greek transporters and importers are increasingly expressing concerns about …

What is the solution for the demographic problem in Greece?  Certainly more children. But how will this be possible when the generations in reproductive age hardly make the month ends meet with the low salaries they earn, high rents and utility bills, galloping inflation, lack of incentives, no child care …

Greece’s Development Minister Kostas Skrekas appeared almost proud that food prices went up only 25% in two years. He claimed that prices “is not a minister’s but a government’s issue.” In an interview with ANT1 TV, Skrekas who is in this position since summer 2023, described himself as a “minister …

“The increase in incomes is the only solution in the face of high prices that are not going to decrease,” deputy governor of the Bank of Greece and Professor of Economics at the University of Piraeus., Theodoros Pelagidis, admitted on Tuesday. Speaking to state radio ERT, Pelagidis pointed out that …

Greece’s economic outlook has improved notably with real GDP expanding beyond its pre-pandemic trend level, the International Monetary Fund (IMF) said in its staff concluding statement of the 2023 Article IV consultation mission in Athens. Greece’s economy is expected to expand by 2.5% this year due to strong domestic demand, …

Consumer Price Index (CPI) in Greece rose by 3.4% in October 2023 compared to 1.6% in September and 9.1% in the same month last year. Excluding the very large drop in the price of natural gas within a year (60.5%), food items rose further by 9.9%, with oil and fat …

Bank of Greece (BoG) governor, Yannis Stournaras, on Tuesday requested a review of all tax exemptions by the political leadership of the finance ministry, adding that “the country needs revenue.” Stournaras was speaking at a conference organised by ‘Kyklos Ideon’ think tank. He also argued that the revenues expected to …

Development Minister Kostas Skrekas has imposed the maximum fine of 1,000,000 euros to each of the Greek subsidiaries of two multinationals groups after inspections by Interagency for Market Control (DIMEA) units showed that they had violated recent laws on curbing phenomena of unfair profit-taking, a ministry announcement said on Thursday. …

Greece’s Energy Ministry said on Tuesday that it will extend power bill subsidies for households and farmers in November. The new subsidies come a day after electricity providers announced exorbitant price increases between 40 and up to 80 percent for the same month. For monthly consumption up to 500 per …