Greek Households Feel the Pinch of Inflation in 2023

12:56 28/9/2024 - Πηγή: iEfimerida

A new report by the Hellenic Statistical Authority (ELSTAT) has revealed that Greek households are struggling to cope with rising inflation in 2023.

The survey, which collected data on household spending habits, found that many families are cutting back on non-essential expenses to make ends meet.

While food

and energy costs have seen the most significant increases, inflation has had a broad impact on household budgets.

As a result, many Greeks are opting for cheaper alternatives, such as generic brands and cooking at home more often.

The report also highlights regional disparities in spending patterns. Households in urban areas tend to spend more on services and entertainment, while those in rural areas allocate a larger portion of their income to food and housing.

Despite the challenges posed by inflation, the survey found that a small percentage of households have been able to increase their spending. These households are likely to have benefited from higher incomes or savings.

Overall, the ELSTAT report paints a picture of a Greek population facing economic pressures. As the country continues to recover from the COVID-19 pandemic, policymakers will need to address the rising cost of living and ensure that all households have access to the resources they need to thrive.

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