Greece to Raise Minimum Wage to €713

Greek Prime Minister Kyriakos Mitsotakis said on Wednesday that Greece will raise the minimum wage from May 1 for the second time this year, as rising inflation affects household incomes.

Mitsotakis added that the global rise in inflation is hurting low incomes, pointing out From May 1, the basic wage will rise €50 per month to €713 per month.

The conservative government raised the total minimum monthly wage by about 2% to €663 in January, which means that with the new increase the minimum wage will rise by 9.7%.

Consumer inflation in Greece rose to 8.9% in March, hitting a 27-year high as energy costs soared putting pressure on household incomes.

Natural gas prices are up 68.3% year over year, while electricity prices are up 79.3%.

Earlier this month, thousands took to the streets of Athens  to protest what they said was a "worsening crisis" of rising prices," according to Reuters.

The elected government's term ends in 2023.