A study shows that living costs in the Czech Republic are lower than the European Union Average

Post date: Jul 09, 2018 8:21:13 PM

A study shows that living costs in the Czech Republic are lower than the European Union Average

According to the data of a survey performed by the Eurostat Company it turns out that the Czech Republic is a relatively affordable country to live in, at least in comparison to the European Union average. The data of the survey, which examined the prices of over 2400 consumption products and services concluded that prices in the Czech Republic in 2017 were lower by 69% than the average in the European Union states, and particularly relatively to the West European States.

The survey shows that the most expensive country in the European Union is Denmark, and the least expensive in Bulgaria. In Addition, the survey shows that the Euro Block states were relatively expensive in relation to the European Union states who had not yet adopted the currency. Although the survey included no differences in the wages or the buying of the various European Union states, its results were surprising.

For example, the survey revealed that there were vast gaps (of up to 300%) in the general level of prices of various consumption products and services between the different states of the European Union. When one focuses on specific fields, the differences are no less conspicuous. For example, in 2017 there was gap of no less than 200% in the prices of basic food and (nonalcoholic) beverages between the different states.

The Eurostat experts claim that the differences derive from differences in taxation between the different states, but the bottom line doesn’t lie- the Czech Republic is simply less expensive to live in. The surprising thing is that there was not a single field in which the Czech price range exceeded the European Union average, but there was one field in which the Czech Republic met the mean – the field of Media.

In most of the parameters, the prices in the Czech Republic were well below average. For example: food and alcoholic beverages (86% of the average), furniture, alcohol and tobacco (74%), fuel (87%), clothing (99%), electronics, electric home appliances and footwear (93%).

In certain respects the Czech Republic reached the bottom of the list as one of the most inexpensive countries, for example in the field electronics products (92% of the average), and restaurants and hotels (60%), the Czech Republic was the third lowest priced country on the list. In the field of personal transportation devices the Czech Republic reached the second lowest place (82%), whereas in the field of transportation it reached the least expensive ranked place (52% of the average).

That is, by the way, one of the primary reasons that the Czech Republic in general, and Prague in particular, have enjoyed, over the past few years, positive immigration from throughout the European Union.

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