Spend­ing mainly on ba­sic needs

Kathimerini English - - Focus - DIMITRA MANIFAVA

Food and hous­ing costs, in­clud­ing spend­ing on heat­ing and wa­ter, ab­sorb the lion’s share of Greek house­holds’ in­come, Euro­stat fig­ures re­vealed yes­ter­day.

Food ac­counted for 16.9 per­cent of house­hold spend­ing last year, com­pared with an av­er­age rate of 12.2 per­cent across the Euro­pean Union. The Greek rate is closer to the poor­est coun­tries in the bloc, in East­ern Europe. This serves to high­light the re­duc­tion of Greek house­holds’ dis­pos­able in­come that has seen them cov­er­ing their ba­sic needs at the ex­pense of other cat­e­gories. In 2008 the Greek rate had stood at 15.1 per­cent.

The big­gest cat­e­gory of ex­penses for Greek house­holds is hous­ing, which in 2017 ac­counted for 19.8 per­cent of all spend­ing. How­ever, thanks to the low rental rates in Greece, the hous­ing ex­pen­di­ture cat­e­gory trails the Euro­pean Union av­er­age of 24.2 per­cent.

A re­mark­able 15.4 per­cent of house­hold spend­ing went to ho­tels and restau­rants, plac­ing Greece fourth among all EU states. This rate has in­creased from 12.8 per­cent in 2008 be­cause the value-added tax rates in both food ser­vice and ho­tel ac­com­mo­da­tion have soared over the course of the last decade.

Food ac­counted for 16.9 per­cent of house­hold spend­ing last year, when the EU av­er­age was 12.2 per­cent.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.