Four countries have a more significant average basket than Greece
The prices of the “typical household basket” are lower in Greek supermarket Compared to France, England, Italy, Spain, Portugal, Germany, Romania, as evidenced by the repeated report of the Institute of Retail Consumer goods (IELKA).
It is noted that the results result from an organized price comparison survey (based on elements of prices comparison platforms in each country, but also on supermarket pricing) in a standard products of the household of the organized food retailers in Greece, in Greece, in Greece, Portugal, in Germany and Romania.
Price comparison is with and without the value of VAT, which differs in each country. The prices were compared to this analysis in a total of 41 product categories. These subcategories of product are examined by a significant sample of over 6,000 product prices and 44 different supermarket chains in eight countries in total to calculate average prices, with sampling from valid price comparison sites in Greece and abroad, as well as supermarket chains. The data include final prices of both branded products and private label products in each country. It is clarified that prices are only for supermarket chains and not other points of sale.
Comparison of average basket prices indicates that Four countries have a more expensive average basket than Greece, 39% Germany, 27% of France, 24% in the United Kingdom, 11% Italy, while Portugal’s more expensive basket, Spain and 5% Romania.
However, as IELKA points out, the image of the results changes significantly when we remove the corresponding VAT per country to understand the actual prices of supermarket products. The comparison of baskets in this case shows that the seven countries have a more expensive average basket than Greece, Germany by 47%, France by 34%, the United Kingdom by 32%, Italy by 19%, Spain by 17%Portugal by 10%and Romania by 10%.
This, According to IELKA, it is the result of the difference between the low VAT per country (this is the VAT mentioned in food and drinks). In Greece this VAT is 13%. VAT is significantly higher than the United Kingdom (0%or 5%) and France (10%and 5.5%), Spain (10%and 2%), Portugal (13%and 6%), Italy (5%and 4%), Germany (7%) and Romania (9%), and most of the EU countries. VAT with 24%in the other countries are subject to the low VAT rate, which is lower than Greek with 6%, 5.5%, 4%or even 0%. Few products are found in low VAT in Greece and high in other countries (eg baby wipes). It is noted that the impact of special consumption taxes (eg coffee) cannot be taken into account in the above information.
In accordance with IELKA, the general conclusion of the above analysis is that the organized Greek food retail (supermarket) It provides Greek consumers access to products for its standard basket with averaging lower prices that are the result of organized efforts by suppliers and retailers to retention prices in recent years. This trend with slight fluctuations has been timeless over the last 12 years of this research by IELKA.
Timeless price comparison with overseas shows that in recent years Greece has constantly has the typical basket cheaper than comparable countries with some fluctuations that do not change the general conclusion of analysis.
It is noted that factors that need to be taken into account when prices are compared between different countries are: the amount of VAT rates in each country, special taxes in each country, the amount of taxation in each country, agricultural and industrial production in each country, consumer habits in each country (eg, Due to climate change, energy costs, fuel costs and general transport, wage-labor costs, country’s distance from the productive centers of Central Europe and the corresponding costs, the complexity of each country’s geography (eg road network, islands, etc.), market size, market size Retail trade and small specialized points of sale, the export-inspection balance in relation to their food and raw materials, the various production costs (energy, raw materials, wage costs, financial costs, bureaucracy), industry productivity (e.g. due to tourism or weather conditions).
Price data is calculated by well -known countries’ price observatories examined and supplemented by honors and for Greece in the primary data from high supermarket pricing. The criteria for selecting the categories in the basket are a combination of selection of the largest sales of goods, corresponding used baskets for overseas assessment, as well as a common availability of product categories in the markets in the countries examined.
