Finland had the eighth highest consumer price in Europe in 2020

Finland had the eighth highest consumer price in Europe in 2020

Study coordinated by Eurostat looked at the prices of consumer goods and services in a total of 37 countries in Europe. Prices were highest in Switzerland and lowest in Turkey. Within the EU, the highest prices were found in Denmark and the lowest in Romania.

Prices in Finland were relatively highest in the categories of alcoholic beverages and tobacco, as well as restaurant and accommodation services. Energy prices, on the other hand, were below the block average and prices for consumer electronics and telecommunications services were close to average.

Prices of alcoholic beverages and tobacco differed significantly in the reviews due to variations in tax practices. Their prices were about four times higher in Iceland and Norway than in northern Macedonia and Turkey.

Significant differences were also observed in services due to large differences in labor costs. For example, restaurant and accommodation services cost about four times more in the most expensive than in the cheapest countries. Another category with significant differences was postal and telecommunications services.

Prices were most consistent in consumer electronics, home appliances and vehicles. All markets were dominated by international brands.

The comparison includes about 2,400 products with price data obtained in 2018–2020. Finland’s part of the data was collected by Statistics Finland.

Aleksi Teivainen – HT

Source: The Nordic Page

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