Disposable income shrinks twice as fast as GDP

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.