Cyprus tops EU poll of most expensive countries
CYPRUS WAS one of the most expensive countries in Europe last year, according to a European Union survey.
Cyprus is the 11th most expensive country out of the 31 that were researched regarding the prices of food, drinks and cigarettes. The prices of consumer products in Cyprus were some of the highest in Europe in 2003.
Sweets, marmalades, honey and chocolates are the most expensive products in Cyprus, passing the European average of 100 by 42 points. Only three countries are more expensive than Cyprus and they are Denmark, Iceland and Norway.
Even though the removal of taxation on imported goods after Cyprus’ EU accession on May 1 improved Cyprus’ position in the survey, the final rankings of the countries is still basically the same as the report. Increases in fuel prices worldwide have also played a role in the high prices.
The prices of alcoholic drinks (149) are high compared to other countries and Cyprus is third regarding the cost of coffee, tea and cocoa (130). Ireland and Iceland are the only other countries where these products are more expensive.
Other products which are expensive in Cyprus are bottled water, soft drinks and orange juices while taxes also increased the prices of cereals, bread and dairy products. The cheapest products in Cyprus with an average of 75 are meat, fruit and vegetables.
The countries that were taken into consideration for the survey are the 25 European Union member states as well as the three countries — Turkey, Romania and Bulgaria – participating in accession talks and the three countries nominated for accession (Switzerland, Iceland and Norway).
The survey shows that there are remarkable differences in prices between countries of the European Union. The least expensive country is Poland whose average is 55 compared to the most expensive country Ireland which is much higher at 144. This means that food, drinks, and cigarettes in Ireland cost 2.6 times more than in Poland.
Differences between the countries based on their geographical position can also be seen from the report. Southern and Eastern countries of the European Union have a lower average than Europe’s (100) while Northern and Western countries are a lot higher.
The cost of cigarettes in England and Norway is 2.3 times more than the EU average. In Latvia and Lithuania these products are almost 70 per cent cheaper than average European prices and in Bulgaria and Romania they are even cheaper.
