Sun, Nov 22 2009

Bulgaria’s consumer prices lowest in EU – Eurostat

Thu, Jul 16 2009 15:15 CET 1630 Views
Bulgaria’s consumer prices lowest in EU – Eurostat

Photo: Assen Tonev

Prices for consumer goods and services in Bulgaria in 2008 were 51 per cent of the average in the European Union, while in Denmark they were 141 per cent of the average for the bloc, EU statistical office Eurostat said on July 16 2009.
 
Price levels varied by one to three across the EU27 member states, Eurostat said.
 
While announcing the statistics on Bulgaria’s place with the "cheapest" consumer prices, Eurostat did not include its own statistic from April 2009 – that the average income of Bulgarian households is eight times lower than the average in the EU.
 
Denmark was followed by Ireland (127 per cent) and Finland (125 per cent).
 
Price levels of 10 per cent to 20 per cent above the EU27 average were found in Luxembourg (116 per cent of the EU27 average), Sweden (114 per cent), Belgium and France (both 111 per cent), while Italy and Austria (both 105 per cent), Germany (104 per cent) and the Netherlands (103 per cent) were just above the average.
 
The United Kingdom (99 per cent of the EU27 average), Spain (96 per cent) and Greece (94 per cent) were just below the average.
 
Cyprus (90 per cent), Portugal (87 per cent) and Slovenia (83 per cent) were between 10 per cent and 20 per cent below.
 
Price levels between 20 per cent and 30 per cent below the average were found in Malta (78 per cent), Estonia (77 per cent), Latvia (75 per cent), the Czech Republic (72 per cent), Hungary and Slovakia (both 70 per cent).
 
The lowest price levels were found in Bulgaria (51 per cent), Romania (62 per cent), Lithuania (67 per cent) and Poland (69 per cent).
 
Price levels for food and non-alcoholic beverages in 2008 ranged from 67 per cent of the EU27 average in Bulgaria to 147 per cent of the average in Denmark.
 
Among member states, differences in price levels were smaller for this product group than for total goods and services. For alcoholic beverages and tobacco, prices were lowest in Romania (61 per cent of the average) and highest in Ireland (184 per cent). This large price variation is mainly due to differences in taxation of these products among member states, Eurostat said.
 
Clothing is one of the groups of products showing the smallest price variation among EU member states. The United Kingdom (83 per cent of the average) was cheapest and Finland (123 per cent of the average) was most expensive for clothing.
 
Consumer electronics is another group of products where prices differed less among member states. The lowest prices for these products were found in the United Kingdom (86 per cent of the average) and the highest in Malta (126 per cent).
 
Excluding Denmark, price differences among member states were also limited for personal transport equipment. Price levels varied from 84 per cent of the EU27 average in Romania to 174 per cent of the average in Denmark and 125 per cent in Ireland.
 
For restaurants and hotels, price variations were more significant, with price levels ranging from 40 per cent of the average in Bulgaria to 151 per cent of the average in Denmark

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