Why is Ireland the Second Most Expensive Country in Europe?
Ireland has become the second most expensive country in Europe due to economic growth, rising demand, government policies, and unique socio-geographic characteristics. Factors like high transport costs, less competitive markets, and policy choices contribute to the high price levels. The cost of goods and services in Ireland is 38% higher than the EU average, with significant price variations in categories like groceries, energy, and alcohol. While high wages in Ireland offset some of the high costs, a significant minority of households face financial challenges.
Analysis: We're near the top of this league table due to economic growth, rising demand, government policies and unique socio-geographic characteristics
Ireland is the second most expensive country in Europe, with goods and services costing 38% higher than the EU average. Breaking down the price levels, groceries are 15% more, energy 17% more, and alcohol and tobacco a whopping 105% more expensive than the European average.
Transport costs, market competitiveness, and government policies contribute to the high prices. Taxes and minimum pricing make alcohol expensive. Energy costs are high due to fossil fuel dependency and planning delays for renewable energy projects.
Government spending decisions and high wages also impact prices. Overspending adds to inflation, while high wages can lead to an inflationary spiral. Although salaries are 55% higher than the EU average, some households face enforced deprivation.
Economic growth, rising demand, and government policies have made Ireland the second most expensive country in the EU, with varying impacts on households.
According to the source: RTE.ie.
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
