site.btaRomania, Bulgaria Had EU's Lowest Consumer Prices in 2022

In 2022, Romania and Bulgaria had the lowest level of prices of consumer goods and services from the final consumption of households within the EU, which is 41% lower than the EU average, shows data from the National Statistical Institute of Romania, published on Friday.

At the other extreme were Denmark (49% above the EU average), Ireland (42% above the EU average), Luxembourg (37% above the EU average) and Finland (26% 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. In 2022, EUR 100 will be paid for consumer goods and services in the composition of final consumption at the European Union level, and at the two extremes – EUR 149 in Denmark and EUR 59 in Romania and Bulgaria, respectively," the NSI document states.

The statistic cites a statement by Eurostat that Romania is the cheapest member country for the Food and Non-Alcoholic Drinks group (72%), followed by Poland (73%), and at the opposite pole are Denmark and Luxembourg, with the highest level of prices for this group of products (121%).

Information from the Romanian Statistical Institute presents the purchasing power results in Romania compared to EU member states. The data was calculated by Eurostat in December 2023 based on consumer prices collected from participating countries for the general classification of goods and comparable services selected as representative of the consumption patterns of 36 European countries. Other data on the expenditure elements of GDP and other information were also taken into account, Agerpress said, referring to the Romanian Statistical Institute.