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How costly is it to dwell in Latvia?

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The outcomes are based mostly on worth surveys protecting greater than 2 000 shopper items and companies which have been carried out throughout 36 European international locations collaborating within the EurostatOECD Buying Energy Parities (PPP) program.

In 2021, worth ranges for shopper items and companies differed extensively throughout Europe. The best worth degree amongst EU Member States was noticed in Denmark, 40 % above the EU common, whereas in Romania and Bulgaria the value degree was 44 % beneath the EU common.

Latvia got here in 20 % beneath the EU common, making it costlier than Lithuania, Croatia, Hungary, Poland, Bulgaria and Romania amongst its EU friends. Estonia is significantly costlier at simply 3 % beneath the EU common degree.

EU worth degree index, 2021

An understanding of the variations in worth ranges is vital within the comparability of financial information, corresponding to gross domestic product (GDP), as a result of greater relative costs may make an economic system look more healthy than it truly is. Observing worth degree variations can be vital within the evaluation of the event of the EU’s single market for items and companies, Eurostat mentioned.

 



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