The strength of sterling in 2015 has meant that living abroad is more affordable than it has been for a while. But the consensus that living on the continent is always cheaper than living in the UK may no longer be true.
The OGC has surveyed the cost of the most common grocery items – such as bread, milk, teabags, pasta, washing up liquid and laundry detergent – comparing the cost of these items in the UK versus France, Spain, Portugal and Italy (the most popular European destinations with British expats).
The most expensive grocery basket was found in France
The most expensive grocery basket was found in France, with the grand total 18 percent higher than a basket of the same items in the UK. It was also a massive 41 percent more expensive than the cheapest grocery basket – found in Spain.
Spain’s low cost basket was due to the particularly low price of apples, cornflakes and chocolate – but for most items, was a relatively inexpensive place to live.
The shopping basket from the UK, on the other hand, was priced in the middle – cheaper than in France and Italy, but more expensive than Portugal and Spain. This is a promising sign for the British economy, especially given the turbulence of recent months.
The OGC also looked at the wider cost of living, opening up the research to compare the cost of getting around by car and eating and drinking out in Europe and the long haul destinations of the USA, Canada, Australia and New Zealand. This is where the UK prices come in higher than elsewhere, with the cost of petrol and diesel most expensive here; conversely, the UK is one of the only places in Europe where diesel is more expensive than petrol. The USA, on the other hand, had the cheapest petrol and diesel by far – coming in at 66 percent less than the UK cost.
The average cost of a meal out, and for a bottle of beer, was much higher in the UK than in any other country – while the average cost of a glass of white wine was only more expensive in Canada and New Zealand. The lowest cost for these was in Portugal – well-known for its quality of life – with the cheapest glass of wine to be found in Italy.
