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Greek Inflation Rises by One Percent in November

Inflation, or the adjusted index of consumer prices, showed an increase of 1.1 percent in November over levels of a year ago, according to Greek Statistical Authority (ELSTAT) data  published on Monday. The average annual inflation rate for the period...

Greek Unemployment Drops to 18.6%

  The unemployment rate in Greece, dropped to 18.6 percent in September 2018, coming down three-tenths of a percent from the rate of 18.9 the previous month. The new, seasonally-adjusted rate represents a 2.2 percent decrease from the rate of 20.8...

Greek Parliament To Vote on Reversing Pension Cuts Next Week

The proposed law which includes an amendment to block the already-legislated cuts to pensions in 2019 will be tabled and voted on in the Greek Parliament by next week. According to state-run news service AMNA, the vote is likely to...

Athens Rents Up by 17% Over Last Year

Rents for properties in central Athens increased significantly over the last year, mainly due to the demand for short-term occupancy by platforms like Airbnb, according to the Greek renting site Spitogatos. Central neighborhoods in the Greek capital such as Mets, Exarcheia,...

ILO Finds Real Wages in Greece Fell by 3.5% in 2017

According to a study published by the International Labor Organization (ILO), real wages in Greece fell by 3.5 percent in 2017, the biggest decline recorded since 2013. This figure is the highest among the EU member states, with only Azerbaijan...

Greek Banks Ready To Agree on New Home Protection Plan

The Hellenic Bank Association is ready to agree with the Greek government on a new plan which aims to protect the primary homes of property owners. Just as importantly, the new  plan will not create any unwanted financial side-effects,...

Wages in Public Sector Rose for Last Three Years; Private Sector Fell

According to the ERGANI database of the Greek Labor Ministry, the wages the Greek State paid to its staff rose by the impressive figure of 16.7 percent from 2014 to 2017. The information was released following a request from...

'Staramaki': A New Type of Kalamaki From Kilkis

There could be a new food item on the Greek horizon, "Staramaki"! An alternative form of the famous Greek kalamaki, or souvlaki, it could be produced by wheat from the area of Kilkis, in Central Macedonia. Wheat from Greece currently faces...

Report: Nearly Half Greece's Active Population Out of Work

According to the Hellenic Federation of Enterprises' weekly economic bulletin published on Thursday, 44.7 per cent of the economically active population in Greece is out of work. More specifically, between the ages of 15 and 64 years old, 55.3 per...

Cyprus: Unemployment Hits 9-Year Low

The number of the unemployed individuals registered with Cyprus’ District Labor Offices declined in October to the lowest level in nine years, according to data released on Monday by the Cyprus Statistical Service (Cystat). According to Cystat, the number of...