According to the latest Eurostat data, the level of prices of goods and services in Poland is one of the lowest in the European Union.

As every year, Eurostat searched the price level of consumer goods and services in the Member States. This data is used to calculate HICP inflation on a monthly basis. This time they were presented in a different way. Instead of price dynamics, their level was analyzed in relation to the average level in the European Union.

According to Eurostat, the highest price level in 2021 was recorded in Denmark and Ireland (140% of the EU average). It was followed by Luxembourg (132%), Sweden (128%) and Finland (126%). The lowest price levels were recorded in Poland (60%), Romania and Bulgaria (56% each).

The largest price differences in the EU countries were recorded in restaurants and hotels and for alcohol and tobacco products.

In 2021, the price level in restaurants and hotels was almost 3.4 times higher in the most expensive country than in the cheapest one. It ranged from 46% of the EU average in Bulgaria, 54% in Romania, up to 155% of the average in Denmark and 137% in Sweden.

Alcohol and tobacco came second in terms of the difference in the price level, with the lowest price level recorded in Bulgaria (64% of the EU average), Poland (72%) and Hungary (79%) and the highest in Ireland (205%) and Finland (173%). This high price volatility is mainly due to the differences in taxation of these products, emphasizes Eurostat.

Food and non-alcoholic beverages were the cheapest in Romania (69% of the EU average) and Poland (72%), while the most expensive in Luxembourg (125% of the average), Denmark (120%) and Ireland (119%).

Smaller price disproportions were recorded in personal transport between the Member States, with Poland (81% of the EU average) being the cheapest and Denmark (138%) the most expensive. Price differences were also limited in the case of consumer electronics, ranging from 88% of the average in Poland to 113% in the Netherlands.

Adrian Andrzejewski