The Strategist

The Most Expensive EU Countries

06/23/2015 - 15:12

28 countries of the European Union have a serious disorder of the prices for consumer goods, including food and beverages, according to the calculations of the German Federal Statistical Office, summarizing the data for 2014. The country with the highest level of prices turned out to be Denmark, followed by the rest of the Nordic countries.

Images Money via flickr
Images Money via flickr
In the EU, there are states where the cost of living is half-higher than the EU average, but there are others where it is less than half. Of the major countries, Germany is closest to the average parameters: its consumer basket by only 1.5% higher than the European one, according to Deutsche Welle. Italy is close to the arithmetic mean too, the cost of living there is a little higher than 1.9%.

The most expensive region in Europe is Scandinavia, including the cost of living in Denmark – it is higher than the EU average by 38%; in Sweden and Finland - by 23-25%.

At the same time the most expensive region in the continent (post-Soviet countries were not included in the statistics) are the Balkans. Residents and visitors of Bulgaria have to pay for the consumer basket by 51.6% less than the EU average.

However, the most expensive and the cheapest countries on the continent are not included in the EU. Leaders of the cost of consumer goods are Norway (+ 48.1%) and Switzerland (+ 54.1%), while the consumer basket in Macedonia is cheaper by 53.3% than the average European.
In general, Eastern European price level is substantially lower than the European average value. For example, in Hungary, Poland and Romania, the consumer basket costs by 40-50% cheaper than in Lithuania and in the Czech Republic - approximately 36%, in Estonia and Latvia - 20-30%.

Popular among tourists Mediterranean countries have lower price level than in the whole of the EU. In Spain, the consumer basket was in 2014 less the average by 7.3%, Cyprus - 10.6%, in Greece - 13.8%, in Portugal - by 18.9%.

On the contrary, Western European price of consumer goods is often more than average, in particular in Austria, France, Belgium, the Netherlands - by 7-11%; in Luxembourg, Ireland and the United Kingdom - by 20-22%.

source: Xinhua News Agency