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Athens News Agency: News in English, 10-08-10

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] ESEE: 'Tax expensiveness' skyrockets inflation

  • [01] ESEE: 'Tax expensiveness' skyrockets inflation

    ANA-MPA/The high taxes invalidate the efforts of Greek commerce to reduce prices in staple consumer goods, National Confederation of Greek Merchants (ESEE) president Vassilis Korkidis said Tuesday, commening on the rising inflation in Greece.

    Korkidis said that the imposition of excessive increases in indirect taxes skyrocketed inflation in June to 5.5 percent, bringing Greece back 13 years to the August 1997 levels, adding that the "tax increases" that were passed into the market, as well as those that will burden the taxpayer by the end of the year, unfortunately negate the socially responsible and honest effort of all merchants to reduce prices, and in addition create a condition of "tax expensiveness".

    He said the rise in the cost of living, especially during the summer sales period which was characterised by very large price reductions, should worry the economic staff of the government and particularly the EU-IMF troika inspectors, given that their initial forecast of a 1.9 percent increase has already tripled.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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