NEWS

Shopping bag lighter

Greeks spend a hefty chunk out of their annual incomes on food and beverages, accounting overall to 16.6 percent of the GDP. However, Greece is outdone by Portugal with 21.2 percent of GDP and Italy with 19 percent of GDP. On the flip side of the coin, Luxembourg residents spend just 10.1 percent of GDP on their gastronomical pleasures. However, despite the large sums of money being spent of foodstuffs in Greece (more than many other Europeans) a study by PriceWaterHouse Coopers has shown that Greeks’ baskets of household goods are not being filled. It costs a Greek 191.40 euros to fill a supermarket basket (including foodstuffs), whereas the Spanish pay 176.60 euros, the Finns 170.10 euros and the Portuguese 169.10 euros. The Irish are worse off than Greeks as they have to pay 217.60 euros to fill the basket of household goods.