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Yesterday Monday, data from PriceRunner showed the city of Copenhagen the fifth most expensive in the world. Now, a new release has the country the most expensive in the European Union
Danish prices are 42 per cent above the EU average, reports Seven59.dk and business daily Borsen.dk.
The new Statistics Denmark figures show the country higher than Nordic neighbours Finland, at no. 2, and Sweden, at no. 3, where consumer prices are 24 per cent and 22 per cent over the EU respectively.
Prices in Germany are no more than 4 per cent above the EU, while the UK enjoys the EU average.
Danske Bank economist Las Olsen says the high level of prices in this country are detrimental to competiveness.
»We get less for our money in this country,« he says.
»High taxes, VAT, and duties force prices and wages up. Even a lowly paid waiter in a restaurant earns relatively good money, which is one of the reasons restaurant prices are 53 per cent more expensive in Denmark than the EU average.«
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