Ireland had the highest price level for consumer goods and services among the EU Member States observed in 2022, with prices 46 % above the EU average. In 2015, Ireland’s prices were 28% above EU average.
This is according to data compiled by Eurostat, which found the price of alcohol and tobacco in Ireland to be 116% more expensive than the EU average, and three times as high as the lowest price recorded in Bulgaria. It claimed the large price variation was mainly due to differences in taxation of such products.
Consumers in Ireland spend on average 6% of all their household expenditure on these products.
Ireland was found to be the fourth most expensive country in the EU for food and non-alcoholic beverages in 2022 with prices 15% above the EU average.
The cost of restaurants and hotels in Ireland is 28.5% above EU average prices for eating out and tourist accommodation.
Meanwhile, Ireland has the second highest energy prices in the EU after Denmark, with the cost of electricity and gas sitting 38% above the EU average.
Overall consumer prices in Romania were the lowest in the EU with overall costs 42% below the EU average, while Turkey has the cheapest cost of living in Europe with prices 60% below the EU average.