Eurostat: Romania Ranks First In The EU By 257% Surge In Product And Service Prices In 2000-2017
Romania ranks first among European Union Member States regarding the prices of products and services which skyrocketed 257% between 2000 and 2017, being followed by Iceland (108.3%), Hungary (98%) and Latvia (86.7%), Eurostat, the statistical office of the European Union, said in a report on Monday.
Prices of alcoholic beverages and cigarettes in Romania saw the highest increase between 2000 and 2017, of 726%, way above the 92.1% European average. Moreover, fuels, housing, water, natural gas and electricity also saw significant prices increases during the analysed period, of 536%, compared with the 57.2% European average.
Transportation prices in Romania soared by 338% between 2000 and 2017, while restaurants and accommodation units raised prices by 328%, way above the 56% European average in this sector.
Romanians also paid 297% more on "education" between 2000 and 2017, compared with the 91% European average.
According to Eurostat, Romania also recorded 185% higher prices for food and non-alcoholic beverages during the analysed period, 135% higher prices for "communications", 144% higher prices for clothing and footwear and 116% higher prices in the healthcare sector.
„Between 2000 and 2017, prices in the EU have risen by 36 % overall. The highest increases were registered for "alcoholic beverages and tobacco" as well as for "education" where prices rose by more than 90%. "Housing, water, electricity and gas" as well as "restaurants and hotels" followed with growth rates of more than 55%. Prices for "clothing and footwear" remained nearly stable, while prices for "communications" decreased by more than 20%”, says Eurostat.
The EU Member States seeing the highest price increases, after Romania, were Iceland (108.3%), Hungary (98%), Latvia (86.7%) and Bulgaria (84.6%). At the opposite end of scale there were Germany with 28.6%, Sweden with 29.1% and France with 29.7% prices hikes.
Compared with Romania which saw prices increases of 536.5% in the sector of real estate, utilities and fuels, Ireland also boosted prices in the sector by 199%.
In the sector of hotels, restaurants and coffee shops (HORECA) and tourist services, Hungary places second with 158.5% prices hikes, compared with 328% price increases in Romania. As regards prices in the healthcare sector, Hungary ranks first with 156% prices hikes.
Latvia recorded 123.4% higher prices for food and non-alcoholic beverages, 167.5% higher prices in the sector of real estate, utilities and fuels and 139.2% higher prices in the healthcare sector.
Bulgaria saw the highest price hikes for alcoholic beverages and tobacco (408.8% versus 726.5% in Romania), in the healthcare sector (154%). Germany was at the opposite pole, seeing the lowest prices in the sector of real estate, utilities and fuels (38.1%) and in the HORECA sector (41.9%).
France recorded decreases of 7.5% in prices of recreation and culture services, but witnessed prices increases of 22.7% in the healthcare sector and of 47.9% in the sector of restaurants and for accommodation units.
Source: ZFEnglish.com