Tuesday, January 25 2022
Scattered Clouds
33.98°F New York

1 € = $ 1.1331
1 $ = € 0.8825

Economy & Real Estate


Inflation in Greece reached a 10-year high in October, amounting to 3.4% year-on-year, the Hellenic Statistical Authority (ELSTAT) showed on Wednesday, mainly due to doubling of natural gas rates and hikes in fuel and food prices – the latter is expected to pile the pressure on vulnerable households that need to spend most of their budget on food purchases.



Whenever we think about hyperinflation, our mind immediately goes to Germany’s Weimar Republic in the 1920s when people would carry their money in wheel barrels to buy an egg at a shop. But believe it or not, Greece has issued a banknote worth 100 billion drachmas, which in fact bore the signature of the governor of the bank of Greece Xenophontas Zolotas.