24 August 2026
Forty-one years of minimum wage in four phases, and what each one meant in practice.
1985-2001: the drachma era
Through the 1980s and 1990s nominal wages rose fast, but double-digit inflation ran alongside them. In 1985 the net minimum wage bought 482 gyros a month.
National collective agreements set the floor, with indexation that often lagged behind prices.
2002-2009: the euro and stabilisation
Euro entry pushed inflation into single digits. In 2002 the index stood at 528 gyros a month, among the highest of the period.
It also started the familiar sense of price rounding, which showed up clearly in food service.
2010-2018: bailouts and a deep cut
In 2012 the minimum wage was cut by law by 22% (more for under-25s). It is the only stretch in the series where the nominal wage falls.
Prices did not fall in step, so purchasing power lost twice over.
2019-2026: raises and food-service inflation
Since 2019 the minimum wage has risen almost every year, reaching 920 € gross in 2026. Over the same period the gyro went from 2.00 € to 4.89 €.
The result: the 2026 index sits at 162 gyros, below its 2002 level.
See the same numbers live in the interactive dashboard.