According to Eurostat’s price level indices data, Luxembourg posted a price level of 137% of the EU average in 2022. This stands third highest, preceded only by Ireland at 146% and Denmark at 145%. Conversely, the lowest price levels were identified in Romania (58%), Bulgaria (59%), and Poland (62%).
One sector with the highest price level difference was that of alcohol and tobacco, with a staggering 3.3 times higher price in the costliest country compared to the cheapest.
The top three countries with the highest price levels for these commodities were Ireland (216%), Finland (174%), and Denmark (138%), whereas the lowest were reported in Bulgaria (66%), Poland (73%), and Hungary (78%).
These variations are primarily attributable to different tax policies on these products across the EU.
Luxembourg further asserted its prominence in the sphere of high price levels in the hospitality sector. The Grand Duchy emerged third highest for the price levels in restaurants and hotels at 131% of the EU average, just behind Denmark (156%) and Finland (132%). In stark contrast, the lowest price levels in this sector were found in Bulgaria (51%), Romania (61%), and Hungary (62%).
Eurostat’s study also shed light on price variations in other sectors.
For clothing, Denmark (134%), Sweden (117%), and Czechia (115%) were the most expensive, while the cheapest were Bulgaria (80%), Hungary (83%), and Romania (84%). Food and non-alcoholic beverages saw prices vary from 72% of the EU average in Romania to 121% in Denmark. For personal transport equipment and consumer electronics, the highest price levels were recorded in Denmark (132%) and France (115%), with the lowest seen in Poland (87%) and Italy (92%) respectively.
These figures provide insight into the variations in price levels across the EU, further spotlighting Luxembourg’s position among the countries with the highest price levels.
