The Greek government will raise the minimum wage from May 1 for a second time this year, Prime Minister Kyriakos Mitsotakis said on Wednesday as rising inflation takes a toll on household incomes, ekathimerini.com reports.
“The global surge in inflation is hitting low incomes. From May 1 the basic wage will rise by €50 a month to €713 a month,” Mitsotakis announced in a televised address.
For 650,000 employees, the increase corresponds to another month’s salary, on top of the 14 months they receive at present (which includes the holiday bonuses paid in installments at Easter and Christmas).
Consumer inflation in Greece soared to 8.9% in March, hitting its highest level in 27 years with skyrocketing energy costs putting a squeeze on household incomes.
Natural gas prices rose 68.3% on an annual basis, while electricity prices increased 79.3%.
Thousands took to the streets of Athens earlier this month to protest against what they said was a “deepening crisis” of rising prices. The government’s term ends in 2023.
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