Increases in the Agricultural and Technology sector

Salaries in Greece have risen more than inflation in the first quarter of 2024, mirroring trends in the Eurozone, according to data from the European Central Bank.

Specifically, wages per employee in the Greek economy increased by 4.8% compared to an inflation rate (based on Eurostat’s harmonized index) of 3.2% during the same period. In the Eurozone, wages grew by an average of 5% against an inflation rate of 2.6%. However, data over the last five years indicates that wages have barely kept pace with inflation, which surged in 2022 without corresponding wage increases at that time.

Between 2019 and 2024, average wages in Greece rose by 14.1%, compared to a cumulative consumer price increase of 13.6% during this period. Similarly, in the Eurozone, average wages increased by 20.5%, but inflation was higher than in Greece at 19.5%. Compared to 2015, wages in Greece had only increased by 5.2% by 2023, while in the Eurozone, the increase was 22.6%.