Rising cost of living tops concerns for Greek citizens, survey finds
The rising cost of living has emerged as the top concern for Greek citizens, according to a Metron Analysis survey presented at an event hosted by the Alexis Tsipras Institute in Piraeus on Tuesday evening, focusing on inflation and the challenges of the Greek economy.
The survey, conducted with a sample of 1,007 respondents aged 17 and over, revealed that 75% believe Greece is heading in the wrong direction. Additionally, 67% reported that their purchasing power has deteriorated, with only 25% stating it has remained stable. A mere 8% indicated any improvement.
This pessimistic outlook is even more pronounced among certain occupational groups. For instance, 84% of farmers, along with 78% of both working-class individuals and small-to-medium business owners, reported a significant drop in their purchasing power.
According to the survey, daily expenses are placing a heavier burden on household budgets than fixed costs. A total of 57% of respondents identified everyday spending as the greatest financial strain, compared to 40% who cited utility bills. Of that 57%, 77% said grocery shopping is the most challenging, while 64% pointed to transportation costs (such as fuel), followed by 60% who cited medical expenses.
Electricity bills were named the most burdensome among fixed monthly expenses, with 69% of respondents reporting difficulty in paying them, compared to 43% who struggled with telecommunications costs.
When asked how they manage their monthly expenses, 57% said they would cut back on clothing purchases, 54% would reduce supermarket spending, and 53% would limit heating and cooling usage. Half of the respondents said they would sacrifice personal entertainment, and 47% indicated they would reduce vacation spending.
82% of those surveyed believe government intervention is necessary, while only 16% trust that the market can self-regulate
Financial strain was a recurring theme, with 40% of respondents saying they run out of money before the end of the month, while 44% stated they are just managing to get by. According to the survey, 66% of the working class unable to cover their expenses. Only 15% of respondents reported being able to save money, a figure that rises to 40% among higher-income groups.
In terms of addressing inflation, 82% of those surveyed believe government intervention is necessary, while only 16% trust that the market can self-regulate. Additionally, 74% expressed dissatisfaction with the government’s efforts to combat inflation, feeling that much more could be done. The European Union was seen as the second most responsible body (64%), followed by businesses (57%) and, to a lesser extent, consumers themselves.
Despite these concerns, 63% of respondents were doubtful that the inflation problem would be resolved, predicting continued price increases. Of the remainder, 23% believe the situation will remain the same, while only 11% are optimistic about a decrease in prices.
The event, held at the Piraeus Municipal Theatre, featured not only former prime minister Alexis Tsipras but also four former finance ministers from different administrations, including Nikos Christodoulakis, Louka Katseli, Yannis Dragasakis, and Giorgos Houliarakis, who shared their views on the current economic situation and potential solutions.
The event took place against the backdrop of ongoing turmoil within the SYRIZA party, ahead of its extraordinary congress and leadership elections scheduled for next month.
