Disposable income shrinks twice as fast as GDP
For instance, a kilogram of flour in Spain costs 1.03 euros, while in
Greece it costs 1.25 euros. An iPhone 6s, with a capacity of 16 gb
costs 789 euros in Greece against 739 euros in Germany, Portugal and
Austria, 749 euros in France and 770 euros in Italy, all of them
countries with a considerably higher per capita income than Greece.
While prices have started declining marginally in this country since
2013, disposable incomes started shrinking from 2008 by an average rate
of 6.7 percent every year, according to figures collected by the
Organization for Economic Cooperation and Development (OECD): This
stands nowadays at 17,448 per household, far below the OECD member-state
average of 24,339 euros per year.
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