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Trade: Romania, the cheapest EU member state for food and non-alcoholic beverages
Romania had the cheapest food in the EU in 2022, according to data from the National Institute of Statistics (INS). We also had the cheapest furniture.
The lowest level of prices for consumer goods and services from the final consumption of households, within the member states, was recorded in 2022 in Romania, being 42% lower than the EU average, followed by Bulgaria (41% below the EU average) and Poland (38% below the EU average).
The highest level was recorded in Ireland (46% above the EU average), followed by Denmark (45% above the EU average), Luxembourg (37% above the EU average) and Finland (27% above the EU average).
Price level indices express how many units of the same currency are needed to buy an identical volume of goods and services in different countries, for each group of goods and services.
In 2022, 100 euros are paid for consumer goods and services in the composition of final consumption at the level of the European Union, 146 euros in Ireland and 58 euros in Romania.
Citing Eurostat data, INS says that Romania is the cheapest member state for the “Food and non-alcoholic beverages” group (72%) followed by Poland (73%) and at the opposite pole are Denmark and Luxembourg, with the highest level of prices for this product group (121%).
Bulgaria records the lowest price level for the groups “Alcoholic beverages and tobacco” (66%), “Clothing and footwear” (80%) and “Home maintenance, water, electricity, gas and other fuels” (37%), followed by by Poland, for the groups “Alcoholic beverages and tobacco” (73%) and “Home maintenance, water, electricity, gas and other fuels” (40%).
Denmark has the highest price level for products included in the group “Clothing and footwear” (133%), and Ireland is the most expensive country in the EU for products in the groups “Alcoholic drinks and tobacco” (216%) and “Maintenance housing, water, electricity, gas and other fuels” (212%).
Romania has the lowest price level for the group “Articles of furniture, household equipment and current home maintenance” (70%) among EU countries, along with Bulgaria (71%).
Hungary remains the cheapest member state for the groups “Transport” (72%) and “Recreation and culture” (64%) and Bulgaria registers the lowest level of prices for the group accommodation and restaurant services (51%).
Luxembourg has the highest price level for “Articles of furniture, household equipment and current home maintenance” (126%) among the member states. Regarding the “Transport” group, Denmark (127%) and Sweden (126%) are the most expensive countries in the EU.
Denmark stands out from the rest of the member states, being the most expensive country in the “Recreation and culture” group (141%) and in accommodation and restaurant services (156%).