Greek households’ spending up 1.0 pct in 2017, survey

Total monthly household spending on purchases grew 1.0 pct in 2017, while average monthly spending also grew by 1.6 pct, Hellenic Statistical Authority said in a report released on Thursday, adding, however, that an 18.1 pct of the population was facing the risk of poverty (slightly down from 18.2 pct in 2016).

The survey on household budgets was conducted on a sample of 6,176 households around the country. The survey showed that total monthly spending on purchases in 2017 totaled 5,768,848,031 euros, up 1.0 pct from 2016, while average monthly spending on purchases totaled 1,415 euros, up 1.6 pct from the previous year.

Average spending per person was 547.51 euros, up 1.6 pct. In real terms, average monthly spending rose 0.7 pct due to the impact of inflation (0.7 pct). The largest part of average household spending was food (20.4 pct), followed by housing (14.1 pct), transport (12.9 pct) and education services (3.2 pct).

The report said that consumer trends remained largely unchanged in 2017 and noted that the biggest change in household spending was recorded in restaurants (7.4 pct), followed by housing (3.2 pct), leisure and culture (2.8 pct). Nine out of the 12 spending categories recorded an increase, with good and services (1.4 pct), alcohol/tobacco (0.5 pct) and health (0.3 pct) recording a decline.

Greek households spent more on telephone equipment (47.1 pct), financial services (26.5 pct), and spent less in social protection (17.9 pct) in 2017. Consumer models varied depending on household type. Households living on rural areas spent an average of 1,165.81 euros per month, while households living in urban areas spent 1,477.79 euros.

An 18.1 pct of the Greek population lived under the threat of poverty risk. Poor households spent 31.4 pct of their average budget on food, while non-poor households spent 19.7 pct on food. Spending on health accounted for 8.5 pct of average budget (poor households), while health spending by non-poor housholds was 7.5 pct.