To determine the countries with the most and least affordable groceries, 24/7 Wall St. reviewed data on the cost of groceries from Numbeo and average earnings from the OECD. Countries in the OECD were ranked based on the estimated cost of a month of groceries as a percentage of estimated monthly earnings. Estimated monthly grocery costs were calculated by multiplying the cost of a weekly basket of groceries by 4.345, the average number of weeks in a year.
The weekly basket of groceries contains a liter of regular milk, a dozen eggs, 350 grams of cheese, 500 grams of apples, 600 grams of bananas, 600 grams of oranges, 300 grams of tomatoes, a kilogram of onions, a head of lettuce, a 500-gram loaf of white bread, 250 grams of white rice, a kilogram of potatoes, 300 grams of chicken filets, and 100 grams of beef rounds. Average monthly earnings were calculated using data on average annual earnings in 2020 from the OECD.
Our list is modeled after James Andrews’ “Weekly shop index” from February 2022. Total population figures in 2020 are from the World Bank.
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