Prices in Finland are 8th highest, but lowest in the Nordic countries

Prices in Finland are 8th highest, but lowest in the Nordic countries

According to data published by Statistics Finland, the prices of products purchased by consumers in Finland last year were the eighth highest in 37 European countries.

Average prices in Finland exceeded the EU average by 26 per cent.

However, the agency stated that compared to its Nordic neighbors, prices were lowest in Finland, with Denmark, Iceland and Norway exceeding the EU average by 40 per cent and Sweden by about 30 per cent.

Statistical monitoring devices compiled and based their data on a price level comparison used by the EU’s number-breaking outfit Eurostat, which examined consumer prices in 37 countries.

The highest consumer prices were reported in Switzerland and the lowest in Turkey.

By comparison, Finland’s relatively most expensive products were alcoholic beverages and tobacco products, both of which are heavily taxed in the Nordic countries.

Fluctuations in alcohol and tobacco prices have been strongly influenced by local tax policies, and data on the prices of such products in Norway and Iceland have quadrupled those in Turkey.

Restaurant and hotel prices in Finland were also relatively high.

However, energy prices in Finland were below the EU average, while the costs of telecommunications and consumer electronics were roughly the EU average.

Source: The Nordic Page

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