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CONSUMER

Denmark has EU’s highest grocery prices

Denmark is the most expensive place in Europe to buy groceries, according to new figures from Eurostat.

Denmark has EU's highest grocery prices
Those veggies will cost you 145 percent of the EU average. Photo: Colourbox
The Eurostat numbers show that food and non-alcoholic drinks in Denmark cost 145 percent of the average price in the EU. This was well above second-place Sweden, where consumers pay 124 percent of the average EU price.
 
Only non-EU countries Norway and Switzerland have higher grocery costs, at 159 and 173 percent respectively. 
 
Not only does Denmark have the highest overall grocery prices, it can also claim the most expensive meat and bread. Only when it comes to dairy products are there more expensive EU countries. Danish consumers “only” pay 127 percent of the EU average for their milk, cheese and eggs, topped by prices in Cyprus, Greece and Ireland. 
 
While it might be hard to believe if you shelled out 60 kroner for a pint of beer, Denmark is only the fifth most expensive EU country when it comes to alcoholic beverages. Danish consumers pay 138 percent of the EU average price for booze, putting the nation behind Ireland (175%), Finland (172%), the UK (163%) and Sweden (141%). 
 
You can perhaps console yourself over your next beer by thinking of the Norwegians, who pay a whopping 250 percent of the EU average for alcoholic beverages. 
 
When it comes to tobacco products, Denmark’s prices are 106 percent of the average, whereas Irish smokers pay 189 percent.
 
The cheapest EU country for groceries is Poland, while consumers in Bulgaria can enjoy the union’s cheapest alcohol and tobacco prices. 
 
The figures are based on the results of a price survey covering 440 products across Europe, carried out by the European group looking at purchasing power on the continent.  

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CONSUMER

Denmark has lowest price increase in over 50 years

Newly-released figures from Statistics Denmark reveal that the national consumer price index has barely moved over the past year.

Denmark has lowest price increase in over 50 years
Service prices increased slightly while the price of goods fell. Photo: Colourbox
Prices for services like rent, bank fees and insurance increased just a combined 1.3 percent from September 2015 to September 2016, something not seen for decades. 
 
“It is the lowest increase in service prices in over 50 years,” Statistics Denmark wrote
 
The price of goods – including food, clothing, petrol and electronics – decreased by 1.4 percent over the past year, while the overall consumer price index did not increase at all between August and September. 
 
The was brought down by lower rental prices for summer homes and the falling cost of meat and furniture. Rental prices on year-round homes, however, increased by 20 percent in September 2016 when compared to the same month last year. 
 
According to Nykredit economist Tore Strammer, the tepid increase in goods and services prices comes as salaries in the private sector increased by 2.2 percent in the same period. The bank calculated that the average Danish family can end each month with an extra 560 kroner in their pockets. 
 
While Danes, who pay more than anyone else in the EU for food and non-alcoholic drinks, might cheer the news that the prices have stagnated, an economist with the Danish Confederation of Enterprise (Dansk Erhverv) told news agency Ritzau that the low inflation is a sign that the Danish economy still hasn't fully recovered from the global financial crisis. 
 
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