- 24 Jun 2018 10:36 AM
- Budapest Business Journal
The study focused primarily on price levels for food, beverages and tobacco in 38 European countries. The country groups included the 28 EU Member States, three EFTA countries (Iceland, Norway and Switzerland), five candidate countries (Montenegro, the former Yugoslav Republic of Macedonia, Albania, Serbia and Turkey), one potential candidate country (Bosnia and Herzegovina) and Kosovo.
The results of the survey are expressed in price level indices (PLIs), which provide a comparison of countriesʼ price levels with respect to the European Union average.
In 2017, prices for food and non-alcoholic beverages in Denmark were 150% of the EU average, while in Romania they were 62% of the EU average. Alcohol was priced in Finland at 177% of the EU average, but at 65% in Bulgaria and slightly more, at 70%, in Hungary.
In total, Hungary reached 62% of average EU prices, which places the country among the cheapest in the EU, above Bulgaria (48%), Romania (52%), and Poland (56%).
However, for shoppers wishing to buy electronics, Hungary is not the best place, as prices here are only 5% lower than the EU average. By comparison, electronics prices in Ireland are 86% of the EU average.
Switzerland is the most expensive country for food, Norway for non-alcoholic beverages and tobacco, and Iceland for alcoholic beverages within the group of 38 participating countries.
Among the Member States, Denmark is the most expensive country for food and non-alcoholic beverages, at 150% of the EU average, while prices of these items in Hungary are 82% of the EU average.
Finland has the highest price level for alcoholic beverages in the EU, while for tobacco the highest prices were observed in Ireland (208% of the EU average), and the lowest in Bulgaria (51%). Hungary is considered cheap in this category also, at 70% of the EU average.
The full report is available here.