Bulgaria Has EU’s Lowest Consumer Prices in 2021, Eurostat Says

Bulgaria Has EU's Lowest Consumer Prices in 2021, Eurostat Says
Bulgaria Has EU's Lowest Consumer Prices in 2021, Eurostat Says

Africa-Press – Ghana. June 22, (BTA/GNA) – Bulgaria had the lowest price levels for consumer goods in the EU in 2021, according to Eurostat figures published on Tuesday. In 2021, price levels for consumer goods and services differed widely across the EU, and the lowest prices were found in Bulgaria and Romania (both 56% of the EU average).

Eurostat presents consumer prices using purchasing power parities. Denmark and Ireland (both 140% of the EU average) had the highest price levels. These Member States were followed by Luxembourg (132%), Sweden (128%) and Finland (126%). The lowest levels were found in Poland (60%) and in Romania and Bulgaria (both 56%).

In 2021, the widest price gaps were in the “restaurants and hotels” and “alcohol and tobacco” sectors. The price level for restaurants and hotels was almost 3.4 times higher in the most expensive country than in the cheapest one. Price levels in “restaurants and hotels” ranged from 46% of the EU average in Bulgaria, 54% in Romania and 62% in Hungary, to 155% of the average in Denmark, 137% in Sweden and 133% in Finland.

Alcohol and tobacco ranked second in terms of price level difference, with the lowest price levels registered in Bulgaria (64% of the EU average), Poland (72%) and Hungary (79%) and the highest in Ireland (205%), Finland (173%), Sweden (136%) and Denmark and France (both 134%). This large price variation is mainly due to differences in taxation of these products.

Food and non-alcoholic beverages were cheapest in Romania (69% of the EU average) and Poland (72%), while they were most expensive in Luxembourg (125% of the average), Denmark (120%) and Ireland (119%). Bulgaria was close to the cheapest with 79.3%. Clothing is a group of products where prices differed less among the Member States, ranging from 76% of the average in Bulgaria to 134% in Denmark.

Personal transport equipment also recorded a smaller price disparity among Member States, with Poland (81% of the EU average) cheapest and Denmark (138%) most expensive. Price differences were also limited for consumer electronics, from 88% of the average in Poland to 113% in the Netherlands. GNA Credit: BTA

Source: www.gna.org.gh

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