Only Bulgaria recorded lower prices, at 39% below the EU average. The findings are based on purchasing power parity calculations comparing consumer goods and services across 36 European countries.

At the opposite end of the scale, Denmark had the highest prices at 41% above the EU average, followed by Ireland (37% above), Luxembourg (31% above) and Finland (22% above). For every €100 spent on consumer goods and services at EU level, consumers pay €141 in Denmark and just €61 in Bulgaria.

Romania recorded the cheapest prices in the EU for food and non-alcoholic beverages at 78% of the EU average, followed by Slovakia (84%) and Poland (87%). Luxembourg had the most expensive food prices at 124% of the EU average, with Denmark close behind at 120%.

Bulgaria and Romania tied for the lowest prices in recreation, sports and culture at 64% of the EU average. Bulgaria also had the cheapest prices for furniture and household equipment (77%), transport (69%) and restaurants and accommodation services (55%). Denmark topped the price rankings in most of these categories, with restaurants and accommodation reaching 149% of the EU average.