Denmark had the highest overall prices of consumer goods and services in 2017 across the European Union, with Bulgaria the lowest. Meanwhile, Croatia stood out with exceptionally high prices of consumer electronics, report released by Eurostat on Wednesday showed.
In Denmark, consumer goods prices in 2017 were 42 percent above the EU average, followed by Luxembourg, at 27 percent above average, and Ireland and Sweden, at 25 percent above average. At the bottom of the list with the lowest prices of consumer goods and services was Bulgaria, with prices only half of EU average, followed by Romania and Poland with prices also near 50 percent of EU average.
In Croatia, prices in 2017 were overall lower by a third compared to the EU average.
The price level of a comparable basket of food and non-alcoholic beverages across the EU varied greatly – in the bloc’s most expensive member state it was double compared to the cheapest one. In Romania, the basket was 38 percent below the EU average, while in Denmark it was about 50 percent higher, Eurostat said. Among EU countries with low food prices was also Poland, where prices were some 35 percent below EU average.
Along with Denmark, food was most expensive in Sweden, Austria, and in Luxembourg, where the prices of the comparable basket were about 25 percent above EU average. These were followed by Finland and Ireland, where the basket was about 20 percent above average, and Belgium, France, and Italy, where it was 12 percent above average.
In Croatia, the price of the comparable basket of food and beverages was 4 percent lower than the EU average.
Significant differences were also recorded in the prices of alcoholic beverages and tobacco, Eurostat said. In 2017 Ireland topped the chart with highest prices of alcohol and tobacco, at 74 percent above EU average. It was followed by the United Kingdom, at 57 percent above average, and Finland, at 39 percent above average.
The lowest prices in that category were in Bulgaria – almost half of EU average, followed by Romania and Hungary, both at about 30 percent below average. In Croatia, they were 27 percent below average. The large differences in prices in that category are attributed to different excise tax rates applied.
Prices in restaurants and hotels were also highest in Denmark and lowest in Bulgaria – the former had prices 50 percent above EU average and the latter was 50 percent below. Other cheap countries in that category were Romania and the Czech Republic, with 45 and 40 percent below average respectively. Croatia’s restaurants and hotels charged some 27 percent below EU average in 2017.
In consumer electronics, prices across the EU fluctuated the least, ranging from 10 percent above EU average in Denmark and France to 24 below in Ireland. However, Croatia ranked third most expensive country for consumer electronics, with prices 8 percent above EU average.
Smaller differences were also noticed in prices of clothing – from Bulgaria, at 20 percent below EU average, to Sweden, which had prices 34 percent above it. Croatia’s prices were at average EU level.
In prices of cars, motorcycles, and bicycles, the most expensive EU country last year were Finland, Ireland, and Portugal, all at 11 percent above EU average, while the lowest were in Slovakia, where they were 19 percent below average. In Croatia, prices in this category were 6 percent lower than average.
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