The real disposable income of Greek households in 2024 was 5.2% lower than in 2004 and 3.8% lower than in 2010, according to new Eurostat data. This shows that despite wage increases and the reduction in unemployment, income has not recovered from the pandemic and the inflationary crisis that followed, according to a report by “Kathimerini”, also explaining the feeling of high prices recorded in opinion polls.
At the same time, in the twenty-year period 2004–2024, household income in the EU increased by an average of 22%, with Greece and Italy the only countries where a decrease was recorded.
By real disposable income is meant what remains for consumption and saving after taxes are removed and inflation is taken into account.
Among the other countries, Romania had the largest increase in real household per capita income from 2004 to 2024 (134%), followed by Lithuania (95%), Poland (91%), and Malta (90%).
Real disposable income of households is the amount that households have for consumption/expenditure and saving, after inflation is taken into account, income taxes and pension contributions are deducted, plus the individual goods and services (e.g., education and health) that they receive for free.
Sources: Καθημερινή, Eurostat
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