The prices of the typical household basket in Greek supermarkets are lower than in France, England, Italy, Spain, Portugal, Germany, Romania.

This conclusion emerged from the repeated research of the Consumer Goods Retail Research Institute (IELKA) which is based on data from price comparison platforms in each country, but also on prices charged by supermarket chains in a typical household basket of products of the organized food retail trade (supermarket ) in Greece in July-August 2024 and respectively in France, the United Kingdom, Spain, Italy, Portugal, Germany and Romania. The price comparison is made with and without the value of VAT, which differs in each country.

For the present analysis, prices were compared in a total of 42 product categories. These product sub-categories are examined from a significant sample of over 6,000 product prices and 44 different supermarket chains in the eight countries in total to calculate average prices, with sampling from authoritative price comparison sites in Greece and abroad, but also from supermarket chains. The figures include final prices of both branded and private label products in each country. It is clarified that the prices refer only to supermarket chains and not to other points of sale.

What did the research show?

Comparing average basket prices shows that all 4 countries have a significantly more expensive average basket than Greece:

– 33% Germany,

– 25% France,

– 19% the United Kingdom,

– 14% Italy

– more expensive by 3% in Portugal, 5% in Spain and Romania is roughly at the same level as Greece.

Comparing the baskets in this case shows that all seven countries have a more expensive average basket than Greece,

– Germany by 40%, France by 33%, the United Kingdom by 27%, Italy by 21%, Spain by 12%, Portugal by 5% and Romania by 5%.

This is it result of the difference that the low VAT has per country (this is the VAT that refers to food and drinks). In Greece this VAT is 13%. VAT is significantly higher than the UK (0% or 5%) and France (10% and 5.5%), Spain (10% and 4%), Portugal (13% and 6%), Italy (5% and 4%), Germany (7%) and Romania (9%), but also most EU countries.

The main difference is that food that in Greece is even subject to the high VAT rate with 24% in the rest of the countries subject to the low VAT ratewhich is also lower than the Greek one with 6%, 5.5%, 4% or even 0%. Few products are in the low VAT range in Greece and the high in the other countries (e.g. baby wipes) It is noted that the effect of excise taxes (e.g. coffee) cannot be included in the above data

According to IELKA, the general conclusion that emerges from the above analysis is that the organized Greek food retail trade (supermarket) provides Greek consumers with access to products for their standard basket at an average lower price which is the result of the organized effort of suppliers and retailers to hold down prices in recent years. This trend, with minor fluctuations, has been consistent over the last 12 years that this research has been carried out by IELKA. The long-term price comparison with abroad shows that in recent years Greece has consistently had a cheaper standard basket than the compared countries with some variations which do not change the general conclusion of the analysis.

The price data, according to the survey, are calculated from well-known price observatories of the countries examined and supplemented with price quotations and for Greece in the primary data from price quotations in large supermarket chains. The criteria for selecting the categories in the basket is a combination of selecting the best-selling goods, corresponding used baskets for evaluation abroad, as well as common availability of product categories in the markets in the countries under consideration.