In July the industrial producer prices rose by 9%, the highest rate since the early 1980s. The extent to which these pressures at earlier stages of production feed into later stages depends crucially on the pricing behaviour of firms. Competitive markets are key to limiting the extent of such price increases further along the production chain.
Since its gradual deregulation in the 90s reaching full liberalization in 2003, when the last regulations concerning consumer credit were abolished, it has been transformed to one of the most competitive, outward looking sectors in the Greek economy, with its assets increasing more than fourfold in the last ten years.