For the Prime Minister of Romania, data fight the fake news about an “explosion” of prices in his country. The Eurostat study reveals where life is the most expensive and the cheapest in Europe.
The Prime Minister of Romania, Florin Cîțu, was proud to publish Eurostat’s study about the Consumer price levels in 2020 on his facebook page. Romania was at the bottom of a pile representing countries ranked top to bottom according to the price of food in the European Union. He added “that’s how we kill another fake news about the ‘explosion’ of prices“.
Romania is the cheapest country in the EU for food and non-alcoholic beverages, with prices 34.7% lower than the EU average. It is also the cheapest country in the EU overall, with price levels for consumer goods and services almost twice as low as the average. However, Bosnia and Herzegovina, North Macedonia and Turkey are the cheapest of the 37 European countries in the study.
Denmark the most expensive country in the European Union
Denmark has the highest price level in the EU: 41% above average. Life is twice as more expensive in Denmark as in Romania. The Nordic country is where getting dressed cost the most in 2020. Denmark’s prices are closely followed by Norway’s and Iceland’s, but only beaten by Switzerland, where life is the most expensive in Europe and 70% costlier than the EU average. Ireland and Luxembourg are the second and third most expensive countries in the European Union. Norway is where alcohol and tobacco cost twice more than the EU average.
On the other side, Bulgaria is the cheapest EU member for footwear, alcoholic beverages and tobacco. Alcohol and tobacco are at least 30% cheaper in Poland, Hungary and Bulgaria than the EU average. But it is in North Macedonia that alcohol and tobacco are the cheapest in Europe.
The widest gaps in price levels in the EU were in restaurants and hotels. A diner and a night at a hotel would be three times as expensive in Denmark, Sweden or Finland as in Bulgaria, Romania, or Hungary.
Overall, Turkey is the cheapest country in the Eurostat study, with price levels four times as low as in Switzerland.
Romania may be the cheapest country to buy food in the European Union, it is ranked 23rd in the global security food index regarding the quality and safety of food, and the 15th best European country.
- Comparative price levels of consumer goods and services, Eurostat, June 2021, Free access
- Purchasing power parities (PPPs), price level indices and real expenditures for ESA 2010 aggregates, Eurostat, June 2021, Free access
- Rankings and trends, Global Food Security Index, December 2020, Free access