The standard of living of vulnerable households has suffered a setback for the period 2021-2023, despite the rise in minimum wages, as outlined in the interim report from the labor institute of the General Confederation of Greek Workers (GSEE).
Notable reductions are evident in energy consumption (heating, natural gas, electricity), while the most economically challenged households are cutting back on vegetables, fish, and pasta.
Attempting to limit essential goods like bread proved challenging, leading to increased financial strain due to rising prices. There has been a significant drop in meat consumption across all households, and the impact of inflation on cheese consumption has been particularly high.
GSEE President Giannis Panagopoulos, addressing the recent General Council meeting, highlighted that inflation surged to 31.2% in food and non-alcoholic beverages. Increases in electricity, natural gas, and other fuels reached 39.1%, rents rose by 8.3%, and other goods and services related to housing repair and maintenance by 7.9%.
According to the data, Greeks rank last in per capita income purchasing power, coupled with the sixth-highest indirect tax burden in the European Union. It is noteworthy that the purchasing power of the minimum wage in October 2023 equaled that of 2015.
The General Confederation of Greek Workers has declared a general strike for April 17, with the main demand being an increase in all wages beyond the minimum wage.