DK had highest consumer prices in EU in 2022

Figures from Statistics Denmark and the European statistics agency Eurostat show that Danish consumer prices were the highest among all EU countries last year. Danish prices were thus 49 percent above the EU average, making Denmark the most expensive EU country to live in. According to Kristian Skriver, senior economist at the Danish Chamber of Commerce, the explanation is the high wages, the high VAT rate and high taxes. “The high Danish wages make it more expensive to run a business, and thus the bill is higher for Danish consumers. Our VAT is at the high end and at the same time we have a number of consumption taxes that make it noticeably more expensive to spend money in Denmark,” he says.
   Allan Sørensen, Chief Economist at the Confederation of Danish Industries, points out where Denmark stands out. “It is especially housing, energy and restaurants that are significantly more expensive in Denmark than in the EU. Meat is the only product group that is slightly cheaper in Denmark compared to the average price in the EU,” he says. /ritzau/