Danish prices EU's dearest

Danish consumers pay 39 percent than the EU average for many goods and services

Denmark is by far the most expensive country in the European Union when it comes to food, transport, restaurant and hotel prices, according to Statistics Denmark.

When an EU citizen on average hands out DKK 100 for goods in a supermarket, a Danish resident would have to pay DKK 139 for the same items.

This discrepancy is more than enough to place Denmark in first place ahead of 27 other European countries. And there's a long way between first and second position held by Ireland where the same goods would cost DKK 125.

In third and fourth places are Finland and Sweden respectively. At the other end of the spectrum is Bulgaria where the items would cost DKK 45.

In terms of private transportation, the exorbitant car prices and related expenses put Denmark 84 percent higher than the EU average.

Prices for food are 42 percent higher than in the rest of the EU, exceeding costs in neighbouring Germany and Sweden by far. Both countries have lower VAT on food than Denmark.

The latest numbers from Statistics Denmark do away with the notion of Switzerland being the most expensive nation in Europe. Swiss prices are 36 percent higher than the EU average.

'The only consolation is that it might possibly be more expensive in Norway and Iceland, even though that won't help much when you're presented with the bill at the check-out counter,' said Jes Asmussen, an economist at Handelsbanken.

The soaring prices have also placed the country lower in the rankings for the world's richest countries.

According to Statistics Denmark, the country was sixth richest in 2006.

Denmark is now ninth richest, after the gross national product rate has been adjusted with the high living expenses.

However, the economists at Statistics Denmark emphasised that the numbers did not reflect the generally high income levels in the country.


Source: The Copenhagen Post