Estonian Prices 75% of EU Average (8)

Published: 29.06.2011 09:28

Photo: Postimees/Scanpix

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The latest Eurostat figures show that Estonia is still a relatively cheap country – for someone making an average EU salary, that is. Overall prices in 2010 were 75 percent of the average found across the 27-member bloc.

The most expensive country was Denmark, which came in at 143 percent of average, followed by Estonia's neighbors Finland at 123 percent, Luxembourg and Sweden at 120 percent and Ireland at 118 percent.

Bargain hunters should head to Bulgaria, where prices are just 51 percent of the EU average. The next options are Romania at 59 percent, Lithuania and Poland at 63 percent, and Latvia at 69 percent.

It will come as little surprise to Estonian shoppers that clothing and consumer electronics in their country came in at 100 percent and 101 percent of the EU average respectively. Food and non-alcoholic beverages cost 80 percent of the average and alcoholic beverages and tobacco 81 percent. Restaurants and hotels are still a relative bargain at 71 percent of the average.

 

Steve Roman

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Comments (8)

  • Chris S

    29.06.2011 15:28

    Thanks for this article! It's something we have all wondered about... and usually we have only (misleading) anecdotal evidence to go on.

  • avatar

    knut_albers

    29.06.2011 15:30

    So, if the per capita GDP is 65% and the overall prices 75% (not to forget that the most relevant prices, the commodities, are much higher), then I still see here a relative discrepancy in height of 10%, minimum.

  • Roitt

    29.06.2011 20:53

    Now let us see analysis of PPP of average Estonian salary. I would venture guess, et estonian has much lower PPP than almost all western europeans outside of London, Paris, and Scandinavia. and realistic is idea that only in place such as London is real estate more expensive. food in London is quite inexpensive; or, rather, cheap options are plentiful (average price is probably much much higher due to availability of luxury items). Estonia is becoming too expensive to live in!

  • Mark2

    30.06.2011 00:13

    Czech republic and Slovakia have a significantly higher GDP per capita (both nominal and PPP) then Estonia and the price level there is respectively 72% and 71% of the European average. That points to healthy economic development in Estonia.

  • Roitt

    30.06.2011 15:15

    @Mark2...Im not sure you understand situation correctly...you said Estonia economic grows because prices are same in Estonia as countries with higher GDP? And how could PPP (purchasing power parity) be same in countries with same prices but different GDP per capita? PPP means what 1€ buys...if prices same in Czech Republic (Actually, slightly lower) as Estonia but wages higher there, then PPP is by definition lower in Estonia...ie 1€ buys less in Estonia than what it buys in Czech Republic

  • Mark2

    30.06.2011 22:24

    @Roitt: My last sentence was ironical! :) Estonian leaders always claim the Estonian economy is healthy but it is not.

  • Roitt

    01.07.2011 11:34

    I think time is now to say that cronyism in Estonian political system is coming to bear irreversible and catastrophic damage to state. Look at demographic shift: massive "brain drain" from Estonia each year. Why? wages are low, prices are high, fortunes to be made in other countries for example UK. Estonia has fabulously intelligent and bi-lingual workforce that is educated to high, near-Western standard and then takes diploma abroad.

  • Yanica

    09.07.2011 08:40

    ...so you wanted soo badly EU, be happy now Estonia. You never happy what you got, do you! Estonian favorite food is other Estonian; it was, it is, and it will be.