Gyronomics
The Pita-Gyro Index
How many gyros the net minimum wage buys each month — from the drachma to the euro, 1985 to 2026.
Index 1985
737
gyros/month
Peak
737
in 1985
Index 2026
165
gyros/month · +0 vs General CPI
How many gyros the wage buys
Detailed data
| Year | Net wage | Average gyro price (range) | Reliability | Index (gyros / month) |
|---|---|---|---|---|
| 1985* | 85 €≈ 791 € (2026 prices)/ 28,889 GRD | 0.12 €/ 39 GRD(0.09 € – 0.14 €) | CPI-derived | 737 |
| 1986* | 95 €≈ 720 € (2026 prices)/ 32,347 GRD | 0.14 €/ 48 GRD(0.11 € – 0.18 €) | CPI-derived | 669 |
| 1987* | 104 €≈ 680 € (2026 prices)/ 35,574 GRD | 0.17 €/ 56 GRD(0.12 € – 0.21 €) | CPI-derived | 633 |
| 1988* | 118 €≈ 680 € (2026 prices)/ 40,362 GRD | 0.19 €/ 64 GRD(0.14 € – 0.23 €) | CPI-derived | 633 |
| 1989* | 135 €≈ 682 € (2026 prices)/ 46,015 GRD | 0.21 €/ 73 GRD(0.16 € – 0.27 €) | CPI-derived | 634 |
| 1990* | 160 €≈ 673 € (2026 prices)/ 54,687 GRD | 0.26 €/ 87 GRD(0.19 € – 0.32 €) | CPI-derived | 627 |
| 1991* | 183 €≈ 641 € (2026 prices)/ 62,262 GRD | 0.31 €/ 104 GRD(0.23 € – 0.38 €) | CPI-derived | 597 |
| 1992* | 197 €≈ 598 € (2026 prices)/ 67,284 GRD | 0.36 €/ 121 GRD(0.27 € – 0.44 €) | CPI-derived | 556 |
| 1993* | 234 €≈ 619 € (2026 prices)/ 79,715 GRD | 0.41 €/ 138 GRD(0.31 € – 0.51 €) | CPI-derived | 576 |
| 1994* | 255 €≈ 609 € (2026 prices)/ 87,014 GRD | 0.45 €/ 154 GRD(0.34 € – 0.56 €) | CPI-derived | 566 |
| 1995* | 282 €≈ 619 € (2026 prices)/ 96,173 GRD | 0.49 €/ 167 GRD(0.37 € – 0.61 €) | CPI-derived | 575 |
| 1996* | 305 €≈ 618 € (2026 prices)/ 103,901 GRD | 0.53 €/ 181 GRD(0.40 € – 0.66 €) | CPI-derived | 574 |
| 1997* | 330 €≈ 634 € (2026 prices)/ 112,488 GRD | 0.56 €/ 191 GRD(0.42 € – 0.70 €) | CPI-derived | 590 |
| 1998 | 350 €≈ 642 € (2026 prices)/ 119,358 GRD | 0.59 €/ 200 GRD(0.53 € – 0.65 €) | Documented | 597 |
| 1999* | 364 €≈ 649 € (2026 prices)/ 123,938 GRD | 0.63 €/ 213 GRD(0.50 € – 0.75 €) | CPI-derived | 581 |
| 2000* | 379 €≈ 655 € (2026 prices)/ 129,090 GRD | 0.67 €/ 229 GRD(0.54 € – 0.81 €) | CPI-derived | 564 |
| 2001* | 391 €≈ 655 € (2026 prices)/ 133,383 GRD | 0.72 €/ 246 GRD(0.58 € – 0.87 €) | CPI-derived | 541 |
| 2002* | 412 €≈ 665 € (2026 prices) | 0.78 €(0.62 € – 0.94 €) | CPI-derived | 528 |
| 2003* | 437 €≈ 682 € (2026 prices) | 0.84 €(0.67 € – 1.01 €) | CPI-derived | 520 |
| 2004* | 454 €≈ 688 € (2026 prices) | 0.90 €(0.72 € – 1.08 €) | CPI-derived | 504 |
| 2005* | 480 €≈ 704 € (2026 prices) | 0.97 €(0.78 € – 1.16 €) | CPI-derived | 495 |
| 2006* | 511 €≈ 725 € (2026 prices) | 1.04 €(0.83 € – 1.25 €) | CPI-derived | 491 |
| 2007* | 526 €≈ 726 € (2026 prices) | 1.11 €(0.89 € – 1.33 €) | CPI-derived | 474 |
| 2008* | 572 €≈ 757 € (2026 prices) | 1.20 €(0.96 € – 1.44 €) | CPI-derived | 477 |
| 2009* | 589 €≈ 770 € (2026 prices) | 1.26 €(1.01 € – 1.51 €) | CPI-derived | 467 |
| 2010* | 621 €≈ 776 € (2026 prices) | 1.38 €(1.10 € – 1.66 €) | CPI-derived | 450 |
| 2011* | 621 €≈ 752 € (2026 prices) | 1.48 €(1.18 € – 1.78 €) | CPI-derived | 420 |
| 2012* | 492 €≈ 587 € (2026 prices) | 1.56 €(1.25 € – 1.87 €) | CPI-derived | 316 |
| 2013* | 492 €≈ 592 € (2026 prices) | 1.61 €(1.29 € – 1.93 €) | CPI-derived | 306 |
| 2014* | 492 €≈ 600 € (2026 prices) | 1.65 €(1.32 € – 1.98 €) | CPI-derived | 298 |
| 2015* | 492 €≈ 610 € (2026 prices) | 1.69 €(1.35 € – 2.03 €) | CPI-derived | 291 |
| 2016* | 492 €≈ 615 € (2026 prices) | 1.74 €(1.39 € – 2.09 €) | CPI-derived | 283 |
| 2017* | 492 €≈ 609 € (2026 prices) | 1.83 €(1.46 € – 2.20 €) | CPI-derived | 269 |
| 2018* | 492 €≈ 605 € (2026 prices) | 1.92 €(1.54 € – 2.30 €) | CPI-derived | 256 |
| 2019 | 547 €≈ 670 € (2026 prices) | 2.00 €(1.80 € – 2.20 €) | Documented | 273 |
| 2020 | 558 €≈ 692 € (2026 prices) | 2.50 €(2.25 € – 2.75 €) | Documented | 223 |
| 2021 | 560 €≈ 686 € (2026 prices) | 2.70 €(2.43 € – 2.97 €) | Documented | 207 |
| 2022 | 614 €≈ 686 € (2026 prices) | 3.20 €(2.88 € – 3.52 €) | Documented | 192 |
| 2023 | 672 €≈ 726 € (2026 prices) | 3.30 €(2.97 € – 3.63 €) | Documented | 204 |
| 2024 | 715 €≈ 753 € (2026 prices) | 3.80 €(3.42 € – 4.18 €) | Documented | 188 |
| 2025 | 758 €≈ 776 € (2026 prices) | 4.70 €(4.23 € – 5.17 €) | Documented | 161 |
| 2026* | 792 €≈ 792 € (2026 prices) | 4.81 €(3.85 € – 5.77 €) | CPI-derived | 165 |
Conversion rate: 1 € = 340.75 GRD. Amounts before 2002 are shown in euro and in drachma equivalent. The price range reflects the spread across shops and regions (±10% in documented years, ±20% in derived years). The wage is also shown deflated to 2026 prices. Years marked with * include an estimate or derivation — see the per-year references below.
Data consistency checks
Automated checks that run over the dataset every time the page loads.
Non-negative values
Wage, gyro price and index are positive numbers in every year.
Price range consistency
priceMin < price < priceMax holds for every year.
Index correctness
The index equals round(net wage ÷ gyro price).
Net < gross
The net wage is always below gross and within 80-90% of it.
Gyro price monotonicity
The nominal price never falls year over year (expected for nominal catering prices).
Index delta consistency
Each year's delta equals the difference from the previous year's index.
Series completeness 1985-2026
Exactly one record per year, no gaps, with a CPI value available.
Source documentation
Every year declares a source for the wage and for the gyro price.
Deflation to 2026 prices
The real wage equals the nominal one in base year 2026 and is higher in earlier years.
Drachma conversion
Pre-2002 values are converted with the fixed rate of 340.75 GRD/€.
Outlier check
No annual price change above 40% (which would signal incompatible anchors).
Per-year documentation
Pick a year to see exactly which data and calculations were used and which checks passed. Citations open the exact source and the calculation is available as JSON. Current derivation: Catering CPI (restaurants & cafés).
Data & calculations
- Gross minimum wage: 920.00 €Source: Υπουργείο Εργασίας — Δελτία Τύπου & ΥΑ κατώτατου μισθού
- Net wage: 792.40 €920.00 € × (1 − 13.87% employee contributions)
- Gyro price: 4.81 €Projected from 2025 with general CPI 2.4%
- Uncertainty range: 3.85 € – 5.77 €±20% (derived year)
- Purchasing power index: 165 gyros/month792.40 € ÷ 4.81 €
- Change vs previous year: +4165 − 161
- Wage in 2026 prices: 792.40 €792.40 € × cumulative CPI 2026→2026
Checks performed
- Positive valueswage, price and index > 0
- Net < gross (80-90%)net = 86.1% of gross
- Price range3.85 € < 4.81 € < 5.77 €
- Index correctness165 = round(792.40 € ÷ 4.81 €)
- Delta consistencydelta 4 = 165 − 161
- Nominal price monotonicity4.70 € → 4.81 €
- Extreme price change2.3% vs 2025
- Source documentationwage: ypergasias · price: cpi
- 2026 deflation792.40 € → 792.40 € in 2026 prices
Citations
Index with catering CPI: 165 · with general CPI: 165 · difference 0 gyros/month
Sources & assumptions
Bibliography
- EGSSE archive (Government Gazette / taxheaven.gr, ELINYAE)
National General Collective Labour Agreements: minimum wage floors for a single employee with no seniority increments.
- Derivation with wage indexation (ATA) / ELSTAT CPI
Estimate obtained by deflating the 1989 wage backwards using the official annual indexation increases.
- WSI Minimum Wage Database — Greece
Official series of the statutory monthly minimum wage (source: Ministry of Labour), 1994-2025.
- Ministry of Labour — press releases & minimum wage decisions
Ministerial Decision 8934/2026 (Gazette 1759/B/27-3-2026): minimum wage of €920 from 1 Apr 2026 (+4.55%).
- LiFO — “What a 1998 souvlaki would cost you today”
Average pita-gyro price in Athens in the late 1990s: 180-220 GRD.
- Protagon — “How the price of souvlaki doubled in five years”
Wrapped pita-gyro prices: 2019 ~€2.00, 2020 €2.50, 2021 €2.70, 2022 €3.20, 2023 €3.30, 2024 €3.80, 2025 €4.70.
- Eleftherotypia 2001 (republished by reader.gr)
2001 price list: chicken pita gyro 530 GRD (€1.56). It refers to a central Athens shop and a premium chicken gyro, so it is used as an upper sanity bound, not as an average price.
- i-diakopes.gr / STAR report
Thessaloniki 2022: pita gyro €3.90-4.00.
- Derivation with official inflation (ELSTAT / Bank of Greece)
Where no documented price exists, the price is derived from the nearest documented price by applying that year's annual catering CPI (general CPI + empirical catering spread).
Calculation assumptions
- Wage = the statutory monthly minimum wage of a single employee with no seniority increments (14 salaries/year; the monthly figure is shown).
- Net = gross minus employee contributions: 16% through 2018, 15.9% in 2019, 14.12% in 2020 and 13.87% from 2021. The minimum wage stays below the tax-free threshold, so no income tax is deducted.
- Where two wage levels applied within a year, the one in force for most of the year is used.
- Where no documented gyro price exists, the price is never invented: it is derived from the nearest documented price using official annual CPI (ELSTAT / Bank of Greece) — backwards for 1985-1997 from 1998 and forwards for the remaining years.
- The derivation uses catering CPI: general CPI plus an empirical sector spread of 4.0 pp/year, calibrated so that the 1998→2019 derivation lands exactly on the two documented prices.
- Every price carries a range: ±10% for documented years (spread across shops/regions, e.g. 180-220 GRD in 1998, €3.80-4.20 today) and ±20% for derived years.
- Drachma conversion: irrevocable rate of 1 € = 340.750 GRD.
- Gyro price = the average price of a wrapped pita gyro in an urban shop; intermediate years are derived with official inflation between the documented anchors.
References per year
| Year | Wage source | Gyro price source | CPI / catering |
|---|---|---|---|
| 1985 | Derivation with wage indexation (ATA) / ELSTAT CPI | Derivation with official inflation (ELSTAT / Bank of Greece) | 19.3% / 19.3% |
| 1986 | Derivation with wage indexation (ATA) / ELSTAT CPI | Derivation with official inflation (ELSTAT / Bank of Greece) | 23.0% / 23.0% |
| 1987 | Derivation with wage indexation (ATA) / ELSTAT CPI | Derivation with official inflation (ELSTAT / Bank of Greece) | 16.4% / 16.4% |
| 1988 | Derivation with wage indexation (ATA) / ELSTAT CPI | Derivation with official inflation (ELSTAT / Bank of Greece) | 13.5% / 13.5% |
| 1989 | EGSSE archive (Government Gazette / taxheaven.gr, ELINYAE) | Derivation with official inflation (ELSTAT / Bank of Greece) | 13.7% / 13.7% |
| 1990 | EGSSE archive (Government Gazette / taxheaven.gr, ELINYAE) | Derivation with official inflation (ELSTAT / Bank of Greece) | 20.4% / 20.4% |
| 1991 | EGSSE archive (Government Gazette / taxheaven.gr, ELINYAE) | Derivation with official inflation (ELSTAT / Bank of Greece) | 19.5% / 19.5% |
| 1992 | Derivation with wage indexation (ATA) / ELSTAT CPI | Derivation with official inflation (ELSTAT / Bank of Greece) | 15.9% / 15.9% |
| 1993 | EGSSE archive (Government Gazette / taxheaven.gr, ELINYAE) | Derivation with official inflation (ELSTAT / Bank of Greece) | 14.4% / 14.4% |
| 1994 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 10.9% / 10.9% |
| 1995 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 8.9% / 8.9% |
| 1996 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 8.2% / 8.2% |
| 1997 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 5.5% / 5.5% |
| 1998 | WSI Minimum Wage Database — Greece | LiFO — “What a 1998 souvlaki would cost you today” | 4.8% / 9.0% |
| 1999 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 2.6% / 6.7% |
| 2000 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.2% / 7.3% |
| 2001 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.4% / 7.5% |
| 2002 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.6% / 7.7% |
| 2003 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.5% / 7.6% |
| 2004 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 2.9% / 7.0% |
| 2005 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.5% / 7.6% |
| 2006 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.2% / 7.3% |
| 2007 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 2.9% / 7.0% |
| 2008 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 4.2% / 8.4% |
| 2009 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 1.2% / 5.2% |
| 2010 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 4.7% / 8.9% |
| 2011 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 3.3% / 7.4% |
| 2012 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 1.5% / 5.6% |
| 2013 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | -0.9% / 3.1% |
| 2014 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | -1.3% / 2.6% |
| 2015 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | -1.7% / 2.2% |
| 2016 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | -0.8% / 3.2% |
| 2017 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 1.1% / 5.1% |
| 2018 | WSI Minimum Wage Database — Greece | Derivation with official inflation (ELSTAT / Bank of Greece) | 0.6% / 4.6% |
| 2019 | WSI Minimum Wage Database — Greece | Protagon — “How the price of souvlaki doubled in five years” | 0.3% / 4.3% |
| 2020 | WSI Minimum Wage Database — Greece | Protagon — “How the price of souvlaki doubled in five years” | -1.2% / 2.8% |
| 2021 | WSI Minimum Wage Database — Greece | Protagon — “How the price of souvlaki doubled in five years” | 1.2% / 5.2% |
| 2022 | WSI Minimum Wage Database — Greece | Protagon — “How the price of souvlaki doubled in five years” | 9.6% / 14.0% |
| 2023 | WSI Minimum Wage Database — Greece | Protagon — “How the price of souvlaki doubled in five years” | 3.5% / 7.6% |
| 2024 | WSI Minimum Wage Database — Greece | Protagon — “How the price of souvlaki doubled in five years” | 2.6% / 6.7% |
| 2025 | Ministry of Labour — press releases & minimum wage decisions | Protagon — “How the price of souvlaki doubled in five years” | 2.8% / 6.9% |
| 2026 | Ministry of Labour — press releases & minimum wage decisions | Derivation with official inflation (ELSTAT / Bank of Greece) | 2.4% / 6.5% |