Due to high prices and persistent inflation, especially in food items (led by the price of olive oil), 46% admit to keeping a tight budget, while a considerable 37% say they have switched to lower-quality products – against just 15% of consumers in other countries.
The price of olive oil soared by 58.5% in December, by far the biggest monthly increase due to inflation, data from the Hellenic Statistical Authority (ELSTAT) has down.
ELSTAT said inflation increased to 3.5% in December from 3% in November but was down from 7.2% in the same month last year.
This development reflected mostly an increases in the vast majority of products and services, despite a sharp fall in natural gas (-52.9%) and fuel and lubricant (-3.3%) prices.
Price increases were recorded in bread and cereals (2.6%), meat (6.5%), fish (8.4%), dairy and eggs (3.8%), olive oil (58.5%), fruit (15%), vegetables (14%), sugar, chocolate and ice cream (7.7%), coffee, cocoa and tea (3.7%), mineral water, beverages and juices (12.6%) and alcohol (5.2%).
Other price increases were recorded in clothing and footwear (6.4%), housing rents (5.1%), electricity (0.7%), heating oil (6%), solid fuels (9.9%), pharmaceuticals (11.8%), medical services (5.3%), used cars (5.8%), air travel (3.8%), cinemas and theaters (10.3%), holiday packages (8.8%), hairdressers (2.9%) and health insurance (5.7%).
On the other hand, prices also fell in telephone services (3.5%) and audio-visual (5.1%).
Read More: Inflation rises to 3.5% in Dec, with olive oil prices soaring by 58.5%