Ireland has the second highest prices in the EU across a broad cross-section of consumer goods and services.
According to new Eurostat figures Irish prices were 125% of EU average in 2016. With the exception of consumer electronics, Ireland was above the EU average for all the price categories surveyed. In Ireland, prices of alcoholic beverages and tobacco were the most expensive in the EU,175% of the EU average.
Meanwhile Ireland was third highest for ‘personal transport equipment’ such as cars, motor-bikes and bicycles, (111% of EU average); fourth highest for restaurants and hotels and fifth highest for food and non-alcoholic drinks. In a recent development, Ireland is also now above average for clothing at 112% of the EU average prices.
The only silver lining is that Ireland was on the EU average for consumer electronics (100%). However, the figures indicate that EU states, including Ireland, remain a lot cheaper than some non-EU European countries, with Switzerland, Iceland and Norway outstripping EU prices by a significant margin.
Across the EU, price levels for consumer goods and services varied by almost one to three between the cheapest and the most expensive Member State. Denmark was the most expensive of all highest at 139% of the EU average, while Bulgaria (48%) and Romania (52%) the cheapest.