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German consumer goods cheaper than most direct neighboring countries: Destatis

Xinhua, June 22, 2015 Adjust font size:

The price level for consumer goods in Germany was just above European Union (EU) average, said German Federal Statistical Office (Destatis) on Monday.

According to Destatis' report, the price level of private consumption expenditure in Germany in 2014 was by 1.5 percent higher than the average of the 28 member states of the European Union (EU).

The price level in most direct neighboring countries of Germany was higher than Germany. Only in Poland and in the Czech Republic, the cost of living was lower, as had been the case in the last few years, said Destatis.

As the data showed, the price level in Denmark was 38 percent above the average, the highest within EU, followed by Sweden (24.7 percent above average) and Finland (23.2 percent above average).

However, Bulgaria has the lowest consumer goods prices within the EU, which was 51.6 percent below average.

The figures were based on preliminary results for purchasing power parities and comparative price levels published by the Statistical Office of the European Union on June 16, 2015, said Destatis. Endit