21/06/2023 16:04
Price levels for household final consumption expenditure in Cyprus stood at 91% of the EU average in 2022, according to data published by Eurostat, the statistical service of the European Union.
The highest price levels for all product categories were recorded in Ireland (146% of the EU average), Denmark (145%) and Luxembourg (137%). Meanwhile, the lowest levels were recorded in Romania (58%), Bulgaria (59%) and Poland (62%).
By product category, the price level for alcohol and tobacco was around 3.3 times higher in the most expensive country than in the least expensive one.
The lowest price levels for alcohol and tobacco were recorded in Bulgaria (66% of the EU average), Poland (73%) and Hungary (78%). Meanwhile, the highest levels were recorded in Ireland (216%), Finland (174%) and Denmark (138%). This large price variation is mainly due to differences in taxation of these products according to Eurostat.
In Cyprus, prices for this category stood at 93% of the EU average.
Restaurants and hotels ranked second in terms of price level difference, with the lowest price levels registered in Bulgaria (51% of the EU average), Romania (61%) and Hungary (62%) and the highest in Denmark (156%), Finland (132%) and Luxembourg (131%). In Cyprus, prices for this category stood at 89% of the EU average.
Clothing was cheapest in Bulgaria (80% of the EU average), Hungary (83%) and Romania (84%), while it was most expensive in Denmark (134%), Sweden (117%) and Czechia (115%). In Cyprus, prices for this category stood at 94% of the EU average.
Disparities were also recorded for food and non-alcoholic beverages (varying from 72% of the EU average in Romania to 121% in Denmark), personal transport equipment (varying from 87% in Poland to 132% in Denmark) and consumer electronics (varying from 92% in Italy to 115% in France).
By category in Cyprus, the categories in which prices recorded the largest disparity from EU averages in 2022 were education (146%), milk, cheese and eggs (129%), other food (126%), bread and cereal (117%) and fabricated metal products and equipment, except electrical and optical equipment (116%).
The lowest disparities were recorded in residential buildings (63%), construction (72%), non-residential buildings (77%), housing, water, electricity and gas(77%) and tobacco (79%).