Turkey ranked 10th cheapest country in Europe

ANKARA

AFP photo

Turkey became Europe’s 10th cheapest country in terms of goods and services in 2014, the Turkish Statistics Institute (TÜİK) said in a written statement on June 25. 

The comparisons were made between prices in the 28 EU member countries, Switzerland, Iceland, Turkey, Macedonia, Serbia, Albania and Bosnia Herzegovina. 

Turkey’s price level index was found to be 61.39 percent lower than the EU average. 

Across Europe, the most expensive country was Switzerland and the cheapest was Macedonia, according to TÜİK research. 

Turkey had the lowest clothing and textiles prices across Europe in 2014, while the most expensive textiles were sold in Iceland. 

The highest prices in Turkey were seen in “personal transportation vehicles” last year, with the country ranking 7th out of all 37 countries in Europe in this group, scoring a 110 index value. The highest prices in this group were seen in Denmark with 151 points, while the lowest prices were in the Czech Republic with 75 index points. 

In the “food and non-alcoholic beverages group,” which has the biggest effect on overall results, Turkey had the 12th highest prices. The highest prices in the group were seen in Norway and the lowest in Macedonia, according to the TÜİK data.