Greece-Inflation/Food

Inflation puts Greece's cheap “comfort food” beyond some customers

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Shotlist


Athens, Greece - Recent (CGTN - No access Chinese mainland)
1. People making local specialty souvlaki
2. Various of souvlaki
3. Man serving food
4. Various of diners
5. SOUNDBITE (Greek, dubbed with English) Aris, local resident (full name not given):
"I bought this for three and a half euros, it's really expensive. A year ago, it was one euro or less. The increase is crazy. It's fast food. It shouldn't be this expensive, especially given the financial difficulties people are facing."
6. Various of people making souvlaki
7. Menu
8. SOUNDBITE (Greek, dubbed with English) Antonis Kalamaras, manager, Thanasis Restaurant:
"When the cost of ingredients is going up so fast, you either pass it on to the consumer or you reduce quality. We've been here for many years and many people know us, so we had no choice but to increase prices. It's the only way we can survive."
9. Various of diners, restaurant
10. Various of food
11. Man eating souvlaki
12. SOUNDBITE (Greek, dubbed with English) Spyros Bairaktaris, owner, Bairaktaris Traditional Souvlaki (ending with shot 13):
"I know that all products have increased in price from the ingredients to the electricity and gas. It keeps these machines running. But for me, I prefer to have less profit than have my customers paying more."
13. Various of pedestrians
14. Woman at restaurant
15. Board showing gas price

Storyline


Restaurants are facing higher costs which have led to increased prices for customers due to record inflation in Greece.

Greece's annual consumer inflation slowed to 11.6 percent in July from 12.1 percent in the previous month, but remained close to its highest level in nearly three decades, according to data released by the Hellenic Statistical Authority (ELSTAT).

The classic meal of grilled meat wrapped in flatbread with salad, garlic yogurt and fries is called gyros or souvlaki. This mouthwatering sandwich is usually a meal on the go, tasty and cheap, but the impact of inflation is causing the price of this signature snack to soar.

"I bought this for three and a half euros, it's really expensive. A year ago, it was one euro or less. The increase is crazy. It's fast food. It shouldn't be this expensive, especially given the financial difficulties people are facing," said local resident Aris.

While many Greeks are struggling to keep up with the rising prices of everyday items, they may turn to souvlaki or gyros as a solution for a cheap meal. However, the popular street food is feeling the heat of inflation. Souvlaki prices have spiked as Greece's inflation hits a 28-year high.

Although the minimum wage increased this May to 713 euros a month, a 7.5-percent jump, the prices of the gyros' main ingredients - meat, vegetables and sunflower oil, along with energy costs – have gone up sharply too.

That's why most restaurant owners have been forced to ratchet up their prices.

"When the cost of ingredients is going up so fast, you either pass it on to the consumer or you reduce quality. We've been here for many years and many people know us, so we had no choice but to increase prices. It's the only way we can survive," said Antonis Kalamaras, manager of Thanasis Restaurant.

For many, souvlaki is associated with comfort food, something cheap that you can have for lunch, dinner or even after a long night out. Despite the 30-percent rise in food costs since last year, some owners refuse to put the pressure on customers.

"I know that all products have increased in price from the ingredients to the electricity and gas. It keeps these machines running. But for me, I prefer to have less profit than have my customers paying more," said Spyros Bairaktaris of Bairaktaris Traditional Souvlaki.

After a decade-long financial crisis and just coming out of the epidemic, restaurant owners are worried that if inflation continues to grow, disrupting food supply chains, higher prices could leave a bad taste in their customers' mouths.

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  • ID : 8286299
  • Dateline : Recent
  • Location : Greece
  • Category : economy, business and finance
  • Duration : 1'46
  • Audio Language : Greek/English/Narration/Nats
  • Source : China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Published : 2022-08-13 15:00
  • Last Modified : 2022-08-13 20:36:31
  • Version : 1
  • ID : 8286299
  • Dateline : Récent
  • Location : Grèce
  • Category : economy, business and finance
  • Duration : 1'46
  • Audio Language : Grec doublé en anglais/Narration
  • Source : China Central Television (CCTV)
  • Restrictions : Pas d’accès dans la partie continentale de Chine
  • Published : 2022-08-13 16:54
  • Last Modified : 2022-08-13 20:36:31
  • Version : 1
  • ID : 8286299
  • Dateline : الأيام الأخيرة
  • Location : اليونان
  • Category : economy, business and finance
  • Duration : 1'46
  • Audio Language : اليونانية/الإنجليزية/صوت شرح/الصوت الطبيعي
  • Source : China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Published : 2022-08-13 20:31
  • Last Modified : 2022-08-13 20:36:31
  • Version : 1
  • ID : 8286299
  • Dateline : Reciente
  • Location : Grecia
  • Category : economy, business and finance
  • Duration : 1'46
  • Audio Language : Griego/Inglés/Narración/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Published : 2022-08-13 19:36
  • Last Modified : 2022-08-13 20:36:31
  • Version : 1
  • ID : 8286299
  • Dateline : Kürzlich
  • Category : economy, business and finance
  • Duration : 1'46
  • Audio Language : Griechisch/Englisch/Narration/Originalton
  • Source : China Global Television Network (CGTN)
  • Restrictions : Für das chinesische Festland nicht verfügbar
  • Published : 2022-08-13 19:22
  • Last Modified : 2022-08-13 20:36:31
  • Version : 1

Greece-Inflation/Food

Inflation puts Greece's cheap “comfort food” beyond some customers

Dateline : Recent

Location : Greece

Duration : 1'46

  • English
  • Français
  • العربية
  • Español
  • Deutsch


Athens, Greece - Recent (CGTN - No access Chinese mainland)
1. People making local specialty souvlaki
2. Various of souvlaki
3. Man serving food
4. Various of diners
5. SOUNDBITE (Greek, dubbed with English) Aris, local resident (full name not given):
"I bought this for three and a half euros, it's really expensive. A year ago, it was one euro or less. The increase is crazy. It's fast food. It shouldn't be this expensive, especially given the financial difficulties people are facing."
6. Various of people making souvlaki
7. Menu
8. SOUNDBITE (Greek, dubbed with English) Antonis Kalamaras, manager, Thanasis Restaurant:
"When the cost of ingredients is going up so fast, you either pass it on to the consumer or you reduce quality. We've been here for many years and many people know us, so we had no choice but to increase prices. It's the only way we can survive."
9. Various of diners, restaurant
10. Various of food
11. Man eating souvlaki
12. SOUNDBITE (Greek, dubbed with English) Spyros Bairaktaris, owner, Bairaktaris Traditional Souvlaki (ending with shot 13):
"I know that all products have increased in price from the ingredients to the electricity and gas. It keeps these machines running. But for me, I prefer to have less profit than have my customers paying more."
13. Various of pedestrians
14. Woman at restaurant
15. Board showing gas price


Restaurants are facing higher costs which have led to increased prices for customers due to record inflation in Greece.

Greece's annual consumer inflation slowed to 11.6 percent in July from 12.1 percent in the previous month, but remained close to its highest level in nearly three decades, according to data released by the Hellenic Statistical Authority (ELSTAT).

The classic meal of grilled meat wrapped in flatbread with salad, garlic yogurt and fries is called gyros or souvlaki. This mouthwatering sandwich is usually a meal on the go, tasty and cheap, but the impact of inflation is causing the price of this signature snack to soar.

"I bought this for three and a half euros, it's really expensive. A year ago, it was one euro or less. The increase is crazy. It's fast food. It shouldn't be this expensive, especially given the financial difficulties people are facing," said local resident Aris.

While many Greeks are struggling to keep up with the rising prices of everyday items, they may turn to souvlaki or gyros as a solution for a cheap meal. However, the popular street food is feeling the heat of inflation. Souvlaki prices have spiked as Greece's inflation hits a 28-year high.

Although the minimum wage increased this May to 713 euros a month, a 7.5-percent jump, the prices of the gyros' main ingredients - meat, vegetables and sunflower oil, along with energy costs – have gone up sharply too.

That's why most restaurant owners have been forced to ratchet up their prices.

"When the cost of ingredients is going up so fast, you either pass it on to the consumer or you reduce quality. We've been here for many years and many people know us, so we had no choice but to increase prices. It's the only way we can survive," said Antonis Kalamaras, manager of Thanasis Restaurant.

For many, souvlaki is associated with comfort food, something cheap that you can have for lunch, dinner or even after a long night out. Despite the 30-percent rise in food costs since last year, some owners refuse to put the pressure on customers.

"I know that all products have increased in price from the ingredients to the electricity and gas. It keeps these machines running. But for me, I prefer to have less profit than have my customers paying more," said Spyros Bairaktaris of Bairaktaris Traditional Souvlaki.

After a decade-long financial crisis and just coming out of the epidemic, restaurant owners are worried that if inflation continues to grow, disrupting food supply chains, higher prices could leave a bad taste in their customers' mouths.

ID : 8286299

Published : 2022-08-13 15:00

Last Modified : 2022-08-13 20:36:31

Source : China Global Television Network (CGTN)

Restrictions : No access Chinese mainland

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