Greek consumers take effort to lower prices into their own hands

Society By: Nick Malkoutzis

One of the common complaints in Greece over the past few years is that although wages and pensions have been reduced substantially, the prices of even basic goods remain high. The Organization for Economic Cooperation and Development (OECD), for instance, found recently that the same basket of supermarket goods costs 100 euros in Greece and 110 euros in Germany, where the average wage is substantially higher.

There are a number of reasons for prices not falling significantly: a lack of genuine competition in certain sectors, profiteering, rises in value-added tax and consumption tax and a reliance on imports. The crisis has, however, prompted somewhat of an ...

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