Romania, Europe’s champion on price hike since 2000: 257% increase

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Romania ranks first in the European Union on price hike for products and services, „boasting” a 257% increase during 2000-2017. Romania is followed by Iceland (108.3% increase), Hungary (98% hike) and Latvia (86.7%), according to the latest Eurostat data released on Monday.

Between 2000 and 2017, prices in the EU have risen by 36 % overall. The highest increases were registered for “alcoholic beverages and tobacco” as well as for “education” where prices rose by more than 90 %. “Housing, water, electricity and gas” as well as “restaurants and hotels” followed with growth rates of more than 55 %. Prices for “clothing and footwear” remained nearly stable, while prices for “communications” decreased by more than 20 %.

In Romania, the prices that increased the most during this time were reported on alcoholic beverages and tobacco (726% above the European average which was 92.1%). At the same time, significant price hikes have been registered on housing, water, electricity, gas, and other fuels, where prices in Romania have increased by 536.5% between 2000 and 2017.

In terms of transport prices in Romania have increased by 338.3%, while on restaurants and hotels the costs have been up by 328%.

Romanians have paid more also for education, where prices have increased by 297.3%, while the European average has been 91%.

According to Eurostat, Romanians are paying more also for food and non-alcoholic drinks (a 185% increase), for communications (135%), clothing and footwear (144%) and health (116%).

 

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