Eurostat: Lowest consumer prices in Europe are in Romania

With a price level of consumer goods and services 55.5% of the EU average, Romania recorded the lowest consumer prices in Europe last year, according to Eurostat.

In 2021, the price levels of consumer goods and services differed widely in Europe. Prices for energy in Romania (59.1% of the EU average), communications (38.6% of the EU average) and HoReCa (53.5% of the EU average EU) were much lower than in other EU states, but the prices of tradable goods were quite close: 98.2% of the EU average for consumer electronics, 94.4% for consumer devices, 93.5% for shoes.

Notably, the overall price index is weighted according to each country’s consumption basket – which, in the case of Romania (due to shrinking household budgets), is skewed towards a high share of energy and food bills.

According to Eurostat, food prices in Romania are 69% of EU average prices, but the range of products on the local market differs significantly from those sold in more developed countries, hence the gap may be much greater. weak.

The highest price level among EU Member States was observed in Denmark, 40% higher than the EU average, while in Romania and Bulgaria the price level was 44% lower % to EU average.

The results are based on price surveys covering more than 2,000 consumer goods and services that were carried out in 36 European countries participating in the Eurostat-OECD Purchasing Power Parities (PPP) programme.

The group of participating countries includes the 27 EU Member States, three EFTA countries (Iceland, Norway and Switzerland), five candidate countries (Albania, Montenegro, North Macedonia, Serbia and Turkey) and one potential candidate country (Bosnia and Herzegovina).

(Photo: Wavebreakmedia/Dreamstime)

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