Finland ranked eighth in the ranking of the most expensive countries in Europe

<1> <2> <3> <4> <5> <6> According to the Statistics Center, last year Finland ranked eighth in the ranking of the most expensive countries in Europe to live in. At the same time, prices for goods in Finland are lower than in the rest of the Nordic countries. <7> <8> A total of 37 countries were included in the survey, of which the highest consumer prices were found in Switzerland, and the lowest in Turkey. <9> <10> The price level in Finland exceeded the EU average by 26 percent. Denmark, Iceland and Norway surpassed the EU average by about 40%, and Sweden by 30%. <11> <12> At the top of the list, Switzerland, Norway and Iceland are not members of the EU. Most of the most affordable countries to live in are located in the Balkans. Among the EU countries, the highest prices are recorded in Denmark, and the lowest – in Romania. <13> <14> In Finland, the most expensive goods are alcoholic beverages and tobacco products. Restaurant and hotel services are also relatively expensive. <15><16> Electricity prices in Finland are below the EU average. Telecommunications and consumer electronics prices are in line with the EU average. <17> <18> Taxes lead to differences in alcohol and tobacco prices <19> <20> In alcohol and tobacco price levels, differences between countries were large due to taxation. In Norway and Iceland, prices for alcohol and tobacco are about four times higher than those in the cheapest countries in Europe, North Macedonia and Turkey. <21> <22> Differences in price levels are also evident in product groups that include services. The reason is the large difference in labor costs. <23> <24> The smallest price variation is in the home appliances and automobiles segment, as it is dominated by international brands. <25>