Prices for a typical household basket remain lower in Greek supermarkets than in France, the United Kingdom, Italy, Spain, Portugal, Germany, Romania and Bulgaria, according to the latest recurring survey by IELKA, Greece’s Institute of Retail Consumer Goods Research. At the same time, Greece has the second-highest VAT burden among the countries examined.

What the survey measured

The IELKA report presents the findings of a systematic price comparison study for May 2026. The research is based on data from price comparison platforms in each country, as well as price surveys from supermarket chains, and reveals interesting information on the cost of living across Europe. It examines the cost of a typical household basket of products sold by organised food retailers, meaning supermarkets, in Greece and in the countries included in the comparison.

The study compares prices both with and without VAT, as tax rates vary from country to country.

40 product categories examined

For the analysis, prices were compared across 40 food product categories. IELKA examined more than 6,000 product prices from 48 supermarket chains in the countries under review, calculating average prices using data from reputable price comparison websites in Greece and abroad, as well as from supermarket chains.

The figures include final prices for both branded and private-label products in each country. The prices refer only to supermarket chains and not to other retail outlets.

Greek basket remains cheaper

A comparison of average supermarket basket prices shows that all the other countries examined have more expensive baskets than Greece. The difference is 39% in Germany, 36% in France, 26% in the United Kingdom, 8% in Italy, 14% in Spain, 20% in Romania, 4% in Portugal and 17% in Bulgaria.

VAT changes the picture further

“The picture changes significantly when the corresponding VAT is deducted for each country, revealing the real prices of supermarket products,” the IELKA study states.

When VAT is excluded, the gap widens further. In this comparison, all the countries examined have a more expensive average basket than Greece: Germany by 46%, France by 44%, the United Kingdom by 35%, Italy by 15%, Spain by 23%, Portugal by 6%, Romania by 26% and Bulgaria by 13%.

According to IELKA, this is mainly due to differences in the reduced VAT rates applied to food and drink. In Greece, the relevant VAT rate stands at 13%. This is significantly higher than in the United Kingdom, where many food products are taxed at 0% or 5%; France, where rates of 10% and 5.5% apply; Spain, with rates of 10% and 4%; Portugal, with rates of 13% and 6%; Italy, with rates of 10% and 4%; Germany, where the rate is 7%; and Romania, where rates of 11% and 5% apply.

In practice, many food items that are taxed in Greece at the intermediate rate of 13% fall under lower VAT rates in other countries, including 6%, 5.5%, 4% or even 0%. Very few products are taxed at a lower rate in Greece and a higher rate elsewhere, with baby wipes cited as one example. The only country in the comparison with a higher VAT rate is Bulgaria, where a 20% VAT rate applies to all goods.

The study notes that the impact of excise duties, such as those imposed on coffee, cannot be included in the above figures.

Greece has the second-highest VAT rate in the basket

According to IELKA, Greece has the second-highest average VAT rate for the 40-category basket among the 10 countries examined, at 15.6%. Spain has the lowest average rate, at 7.4%, as many products there are subject to lower VAT. In most of the countries examined, the average VAT rate falls between 9% and 10%.

IELKA’s overall conclusion

“The general conclusion drawn from the above analysis is that the organised Greek food retail sector, namely supermarkets, gives Greek consumers access to products for their typical shopping basket at lower average prices. This is the result of organised efforts by suppliers and retailers to keep prices down in recent years,” IELKA states.

According to the institute, this trend has remained broadly stable, with minor fluctuations, over the past 12 years in which it has carried out the specific survey. A long-term comparison with prices abroad shows that Greece has consistently had a cheaper standard basket than the countries included in the study, with some variations that do not change the overall conclusion.

Factors affecting price comparisons

IELKA notes that several factors must be taken into account when comparing prices between countries. These include VAT rates, excise duties, the overall tax burden, agricultural and industrial production, consumer habits, weather conditions and natural disasters linked to climate change, energy costs, fuel and transport costs, labour and wage costs, and each country’s distance from the production centres of Central Europe.

Other factors include the complexity of each country’s geography, such as road networks and islands; market size; purchasing power; economies of scale in product procurement; the balance between organised retail and small specialist retailers; the export-import balance for food products and raw materials; production costs, including energy, raw materials, labour, financing and red tape; productivity in manufacturing and retail; and seasonal shifts in supply and demand, including those linked to tourism and weather conditions.

How the data was collected

The price data used in the study were drawn from well-known price observatories in the countries examined and supplemented by price surveys. In Greece, the primary data came from price surveys carried out at major supermarket chains.

The basket categories were selected through a combination of criteria: best-selling products, baskets used for comparable estimates abroad and the common availability of product categories in the markets examined.

Supermarket chains included in the study

The study used data from the following supermarket chains:

Greece: Sklavenitis, AB, My Market, Masoutis, Market In

United Kingdom: Morrisons, Asda, Sainsbury’s, Co-op, Ocado, Tesco

Spain: Carrefour, Mercadona, Caprabo, Condis, Dia, Eroski, SoySuper, Alcampo

Italy: CosiComodo, emiDrive, Pim Spesa, Agora, Everli, HeyConad, easyCoop

Portugal: Continente, Minipreço, Auchan, Spar

France: Monoprix Plus, Carrefour, Super U, Auchan, Aldi

Germany: Edeka, Rewe, Kaufland, Lekkerland, Bela, Norma

Romania: Carrefour, Auchan, Mega Image

Bulgaria: Kaufland, Lidl, Supermag, eBag