Uneven course of local prices
Greece is more expensive in telecoms and food than the EU average, but cheaper in transport
The average price level faced by Greek households in 2022 for consumer goods amounted to 88% of the European Union average, according to recent data from Eurostat.
Price levels differed significantly from country to country, as pointed out by the European Statistical Office. Therefore, Ireland held first place, with prices at 146% of the EU average, with Denmark following at 145% and Luxembourg at 137%. At the other extreme, Romania had prices equal to 58% of the EU average, Bulgaria 59% and Poland 62%. Greece is much more expensive than average in telecommunications, but significantly cheaper in public transport. It is also above average in food.
It should be noted that the Eurostat survey covers 2,000 products and services and the relevant indicators are compiled based on purchasing power units. The differentiations vary across product categories. Therefore in food and non-alcoholic beverages, the index for Greece is at 106.5% of the average.
In alcoholic beverages and tobacco, Greece is the same as average (100.1%). Ireland leads with 216.2%, while Bulgaria is only at 65.7%. In this particular category there are the biggest differences due to tax regimes imposed by the member-states in order to reduce the consumption of tobacco and alcohol.
In clothing, Greece is slightly below average, at 97%. In footwear, which amounts to 1% of consumer spending, Greece is at 98.6% of the average. In energy, prices in Greece are at 98.6% of the EU average. In furniture, Greek households face prices below the average, at 96.4%. In household appliances, Greek consumers pay a little above the average – 101.1%. In electronic devices, prices in Greece are at 106.4%. In personal transport, Denmark has the highest index, 132.3% of the EU average; Greece is below average, at 93.1%. In transport services, Greece has among the lowest prices, at 76.3% of the average. In telecommunications, Belgium leads with 171.2%, but Greece comes second with 167.4%. In restaurants and hotels, Greece is below the average at 86.4%.
