«In the EU, it is better to live in one country and earn money in another»
The official statistical body of the EU, Eurostat, named the highest and lowest prices for the average consumer basket of a European, and analysts concluded that it is better to live, eat, have fun and work within the European Union in different countries. And where exactly, we learned from the numbers.
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Eurostat traditionally included Turkey in its report, although only part of it is in the European part of Eurasia. Hotel and catering prices were analyzed separately for tourists.
— It is no secret that prices in different EU countries are not just different, they differ significantly, — says economist Michael Weyhausen. — When choosing a country of residence, a citizen of the European Union makes a conscious choice. Of course, he can go across the border for groceries, but in the most expensive countries of the continent, housing is also the most expensive — both its purchase and utility bills.
To compare intra-European prices, a special price level index (PLI) is used, which denotes something like the «average temperature in a hospital» — the average price tag for certain types of goods and services on the continent. It allows us to immediately determine that, for example, Denmark is ahead of all its neighbors in terms of prices today. Although these indicators can vary depending on many factors.
— But the top five most expensive countries always remain, even if the leadership in price levels changes within themselves, — explains Mr. Weyhausen. — These are Denmark, Ireland, Luxembourg, Switzerland and Norway. In these countries, all goods and services cost on average 2.4 times more than in their neighbors.
This is confirmed by the Eurostat breakdown: the highest prices at the current moment are recorded in Denmark (143 euros for the average consumer basket of goods and services, which, in addition to housing, food, clothing, transport and services, also includes alcohol and tobacco), followed by Ireland (142 euros) and Luxembourg (135 euros), then the Scandinavian countries and Germany. At the same time, the same goods and services can be purchased in Poland for 66 euros, in Bulgaria and Romania for 60 euros, in Bosnia and Herzegovina for 58 euros, in North Macedonia for 52, and in Turkey for 48 euros. The latter also recorded the lowest price growth, in the EU countries everything is becoming more expensive much faster.
— That is, in Denmark you will pay twice as much for the same thing as in Bulgaria, — the economist emphasizes, — but at the same time you are free to go shopping to your neighbors. And here important differences arise. According to interests, so to speak.
It turns out, for example, that clothes in Europe are the cheapest not in the cheapest countries, but in Spain (only 81% of the IUC, that is, average European prices) and in Hungary (88%). And the most expensive place to dress in Europe is not only in the most expensive Denmark, where the prices for rags are 152% of the IUC, but also in Finland (129%), Ireland (128%), the Czech Republic (126%) and Estonia (118%). And the cheapest place to dress up is in Turkey — for only 30% of the average European price tag on clothes.
For travelers, Bulgaria is the cheapest (52% of the EU average for hotels and catering), followed by Romania (65%) and Hungary (72%). And the highest rates here are also held by the three strongest — or rather, the most expensive: Denmark (152%), followed by Finland (129%) and Ireland (128%). And the lowest rates here are also held by Turkey — only 42% of the RPI.
But the most important indicators for Europeans, by their own admission («the most consumed group of consumer goods»), are the prices of tobacco and alcohol, which also contain the largest gap in prices in the EU. The most expensive places to get drunk and smoke are in Ireland (211% of the average price for alcohol and cigarettes in the EU), 199% in Germany, 132% in France, followed by the Scandinavian countries (in terms of alcohol prices, Denmark did not hold the highest bar due to the cheapness of local beer). And the cheapest place to drink and smoke is in Bulgaria, only 66% of the average European prices for bad habits, which is cheaper than even in the cheapest Asian part of Europe, Turkey.