Supermarket prices significantly lower in Greece, IELKA report says

The price of a typical basket of goods from supermarkets in Greece is significantly lower compared with the equivalent baskets in the UK, France, Spain and Portugal, the Research Institute of Retail Consumer Goods (IELKA) said in its six-month report released on Wednesday.

The report made price comparisons with and without VAT, since this varies in each country. The report compared prices in 20 sub-categories of products composing a typical supermarket basket. These sub-categories were examined from a significant sample of more then 2,000 product prices in 20 different supermarket chains in five countries. The figures also include offer prices and private label product prices.

The comparison shows that all four countries have a significantly more expensive average basket than Greece: by 8.0 pct in Spain, 28 pct in France, 22 pct in the UK and 10 pct in Portugal. These differences become even larger if VAT is deducted: Spain 19 pct, France 41 pct, UK 38 pct and Portugal 16 pct. Greece has a significantly higher VAT rate.

IELKA said that this trend has continued in the last seven years and shows that Greece constantly has a cheaper basket compared with these four countries.

Source ANA-MPA
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