Bulgaria Records Lowest Price Levels in EU – Eurostat

Business | June 19, 2014, Thursday // 16:04| Views: 1567 | Comments: 0
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Bulgaria: Bulgaria Records Lowest Price Levels in EU – Eurostat File photo.

The lowest price levels in the European Union for 2013 for consumer goods and services were found in Bulgaria - 48% of the EU average, according to Eurostat latest data.

In 2013, price levels for consumer goods and services differed widely across Member States, the European statistical institute reported. Denmark (140% of the EU average) had the highest price level, followed by Sweden (130%), Luxembourg and Finland (both123%).

Price levels at around 30% to 35% below the average were observed in the Czech Republic, Latvia and Slovakia (all 71%), Croatia (68%) and Lithuania (65%). Price levels for food and non-alcoholic beverages in 2013 ranged from 62% of the EU average in Poland to 140% of the average in Denmark. Differences in price levels between Member States were less pronounced for this product group than for the total of goods and services.

For alcoholic beverages and tobacco, prices were lowest in Bulgaria (59% of the average) and highest in Ireland (178%). This large price variation is mainly due to differences in taxation of these products among Member States.

Clothing is one of the groups of products showing a smaller price variation among Member States, with Hungary (75% of the average) cheapest and Sweden (130%) most expensive. Consumer electronics is another group of products where prices differed less among Member States, ranging from 86% of the average in Poland to 113% in Denmark, Cyprus and Malta.With the exception of Denmark (155% of the average), price differences among Member States were also limited for personal transport equipment, with levels varying from 81% of the average in the Czech Republic to 117% in the Netherlands.

For restaurants and hotels, price variations were more significant, with price levels ranging from 47% of the average in Bulgaria to 149% of the average in Denmark.

Meanwhile, Bulgaria registered levels of consumption equaling 50% of the EU's average values in 2013, Eurostat data has shown.

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Tags: consumer goods and services, prices, Bulgaria, European Union, EU, consumption
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