Greek households cut spending in 2016

Greek households further cut their spending last year, spending more on food and housing and less on education; however, compared with 2015, the percentage of the population facing poverty risk fell slightly, Hellenic Statistical Authority said on Wednesday.

In its report, the statistics service said that total monthly spending by households was 5,713,151,430 euros, down 2.5 pct from 2015, while average monthly household spending was 1,392.03 euros, down 2.0 pct over the same period. Average spending per person was 538.94 euros, down 2.0 pct. In real terms, average monthly spending by households was down 2.0 pct due to a zero impact from the inflation rate.
An 18.2 pct of the population was at risk of poverty in 2016.

The report said that both in 2015 and 2016, spending on food accounted for the biggest part of household spending (20.7 pct), followed by housing (13.8 pct), transport (12.9 pct), hotel/restaurants (9.9 pct), other goods and services (9.0 pct), health (7.4 pct), clothing/footwear (5.8 pct), durable goods (4.4 pct), entertainment (4.6 pct), communications (4.2 pct), alcohol/tobacco (3.9 pct) and education (3.2 pct).