Eurostat’s survey revealed that price levels in 2008 differed widely across Europe: Northern European countries tend to have the highest prices while the south-eastern European countries have the lowest prices. Southern and central European countries tend to show price levels closer to the EU average.

In Denmark consumer prices appeared 41% higher than the average of the 27 EU Member States, while in the Former Yugoslav Republic of Macedonia prices are 53% lower than this average. Among the EU Member States, the cheapest country is Bulgaria (49% below the average).

Food and nonalcoholic drinks are most expensive in Denmark and cheapest in Bulgaria. Taxes on food, alcohol and tobacco across the bloc's 27 states are highest in Ireland and lowest in Romania. Regarding clothing prices, Britain is the least costly and Finland is the most expensive. Prices for consumer electronics are lowest in Britain and highest in Malta. Hotels cost the most in Denmark and the least in Bulgaria.

Eurostat examined prices of 2500 consumer goods and services across 37 European countries (27 Member States, the three Candidate Countries (Croatia, the former Yugoslav Republic of Macedonia and Turkey), three EFTA countries (Iceland, Norway and Switzerland) and four Western Balkan countries (Albania, Bosnia and Herzegovina, Montenegro and Serbia).

The results of the surveys are expressed in "price level indices" (PLIs), which provide a comparison
of countries' price levels with respect to the European Union average: if the price level index is higher than 100, the country concerned is relatively expensive compared to the EU average and vice versa, if the price level index is lower than 100, then the country is relatively cheap compared to the EU average.

10 Least Expensive European Countries:

1. Macedonia
2. Bulgaria
3. Albania
4. Bosnia and Herzegovina
5. Serbia
6. Montenegro
7. Romania
8. Lithuania
9. Poland
10 Slovakia

10 Most Expensive European Countries:

1. Denmark
2. Norway
3. Switzerland
4. Ireland
5. Finland
6. Iceland
7. Luxembourg
8. Sweden
9. France
10. Belgium