Romania has the lowest prices for food & non-alcoholic beverages in the European Union, 34% lower the EU average, according to Eurostat data published at the end of last week.

The country with the second-lowest food prices in the EU was Poland (30% below average). The highest food prices were in Denmark (29% above the EU average), Austria, and Luxembourg (24% above the EU average).

The comparison has significant limitations, as consumers tend to shift to higher-end food segments in wealthier countries. Thus, the price differential partly reflects the quality of the goods.

Overall, the prices of consumer goods in Romania were 55% of the EU average (with the same limitations), compared to 141% of the average in Denmark, which has the highest prices.

Nonetheless, a Romanian earns on average EUR 7.7 per hour, compared to the EU average of EUR 27.7, which makes the goods proportionally less affordable for Romanian households.

The lowest prices in Romania compared to the EU averages are in the (non-tradable) HoReCa sector (54% of the EU average).

Meanwhile, the prices of the highly-tradable category of consumer electronics are only 3% below the EU average. 

(Photo: Wavebreakmedia Ltd/ Dreamstime)

editor@romania-insider.com