Cyprus food and drink six per cent more expensive than the EU average
THE PRICE of food and non-alcoholic drinks in Cyprus was six per cent above the EU average in 2008 putting Cyprus in 11th place out of the EU27, according to figures released yesterday from Eurostat.
The category included bread and cereals, meat, fish, milk, cheese, eggs, oils and fats, fruits, vegetables, potatoes, and non-alcoholic beverages.
The category of hotel and restaurant costs highlighted the differences between prices in Cyprus and among the island’s tourism competitors. Cyprus was three per cent more expensive than the average while competitors were less than the average.
Spain came in as 6.0 per cent cheaper than the EU average, which made it 12 per cent cheaper than Cyprus. Greece worked out 10 per cent cheaper than Cyprus, Malta 22 per cent, Portugal 23 per cent and Turkey 16 per cent.
Cyprus was also the third most expensive EU member state for consumer electronics, which cost 20 per cent more than the average after Denmark which was 21 per cent over and Malta at 26 per cent. The cheapest electronics could be bought in the UK, which reached only 91 per cent of the EU average.
Overall, prices in Cyprus were 90 per cent of the EU average but only because of the mitigating fact that the price of alcohol and tobacco were two per cent less than the EU average, and that clothing and personal transport came in the same as the EU average.
“In 2008, price levels for consumer goods and services differed widely across member states, said the Eurostat report.
It said overall that Denmark was 41 per cent more expensive with Ireland in second place at 27 per cent more and Finland 25 per cent.
Those on the opposite side of the fence included the UK whose prices overall are 99 per cent of the EU average, or 1.0 per cent cheaper, Spain was 96 per cent and Greece 94 per cent. Cheapest was Bulgaria at 67 per cent of the average.
For alcoholic beverages and tobacco4, prices were lowest in Romania at 61 per cent of the average and and highest in Ireland at 84 per cent over, or 184 per cent.
“This large price variation is mainly due to differences in taxation of these products among member states,” said Eurostat.
Copyright © Cyprus Mail 2009
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