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The Hellenic Radio (ERA): News in English, 10-03-15

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

  • [01] Rises in Broad Consumption Goods & Fuel

  • [01] Rises in Broad Consumption Goods & Fuel

    Monday, 15 March 2010 15:20

    New increased VAT rates in effect as of Monday, March, 15 are expected to push up prices of services and broad consumption goods. The burden also falls on households as VAT on food products goes up to 10% from 9% and power and water bills also rise, actually with retroactive effect. Fuel prices sky rocketed after rise in VAT rate while consumers should seek for petrol stations selling at the lowest price as there is no intervention. Increases have been recorded in several highway tolls. First day of VAT rate rises are in effect and industries are delivering products under the new higher prices.

    VAT rates rise to 10% from 9% for food products, restaurants, coffe shops, DEH, EYDAP, drugs, hotel accommodation and to 21% from 19% for clothing, shoes, mobile phone bills, cosmetics, drinks, detergents, electric appliances, electronic products and furniture.

    It is estimated that rises in VAT rates will bring an additional annual cost of 1.300 to 1.500 euros to households. EBEA survey in 4 European countries indicates that Greek consumers come to pay up to 70% higher for toothpaste, beverages, deodorants while price of flour and flour products is up to 5 times higher.

    Rise in Fuel Prices

    Rises in fuel prices has sparked concern among car owners as the cost of fuel is an extra burden to family budget while professional drivers are concerned at rises in diesel price.

    Refineries keep fuel prices firm and petrol station owners are called to further bring down their profit ranging from 4 to 12 cents.

    Fuel cartels have pushed prices up. The government would rather use ceiling price tool instead of just monitoring them" said Synaspismos.

    Petrol stations must issue receipts as of April, 1, 2010. In the meantime, petrol station owners have announced mobilizations in protest against government measures.

    Intensive Inspections

    In the meantime, the General Secretariat for Commerce is carrying out intensive inspections to see whether there are unjustifiable rises in products after increase of VAT rates. General Secretary for commerce, Stefanos Komninos said that the majority of petrol stations had readjusted prices in accordance to increase in VAT rate. He also added that petrol station owners who have not stated fuel selling price will be brought before the public prosecutor.

    Sources: - 105.8-NA/PA

    News item: 34309


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