Greece: Survey finds 2013 household budgets devastated, inequality persists

The rate of decline in 2013 shows a deceleration compared to the -10.2 percent posted in 2012.

Austerity measures with further salary and pension cuts and tax hikes resulted in a change in the household consumption pattern in 2013. In particular, the survey unveiled a shift from spending on transport, durables, housing, hotels-cafes-restaurants, miscellaneous goods and services, education and communication towards food, health, alcoholic beverages and tobacco.

In absolute terms, the highest YoY decrease in expenditure was posted in durables (-11.6 percent), education (-11.3 percent) and transport (-9.9 percent).

In contrast, the lowest declines were recorded in health (-0.3 percent), recreation and culture (-5.6 percent) and food (-6.5 percent), while alcoholic beverages and tobacco showed a marginal rise of 0.1 percent.

The breakdown of goods and services expenditure by sub-categories revealed that the highest YoY drop in 2013 was posted in liquid fuels (-17.56 euros) and restaurants (-14.82 euros), which both correspond to one third of the total expenditure drop.

On the flipside, expenditure for medicines (+5.11 euros), cafes (+3.68 euros) and tobacco (+3.4 euros) showed the highest increase.

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