Comparing food and drug prices. The Head of the Department of International Business, Petr Král, in the Czech Television
How did food and drug prices change in the last three years? The Czech Television ČT, together with Ing. Petr Král, Ph.D., the Head of the Department of International Business, again after 3 years made a research on prices in the Czech Republic, Germany, Poland and Slovakia.
The analysis was based on the comparison of 20 food and drug items. In this basket, there were for example apples, cucumbers, eggs, milk, but also chocolate or gummy bears. From the cosmetics, there were goods such as washing gel, setting loation and child nappies.
Ing. Petr Král, Ph.D. summarizes the results: “…we can see that eight out of twenty items are absolutely the most expensive in the Czech Republic… these are all goods from the western-european renowned brands. Goods with the local production, such as the basic food, are, compared to the previous category, not so expensive, but we can see the trend that western-european products in Czechia are slightly overpriced to create the perception of luxury. Sometimes, they are higher than the prices from the country of origin of the good.”
In the overal comparison, the Czech Republic came first in terms of the highest product prices. It has beaten even Austria that used to lead in this matter. On the contrary, the Polish buyer may cherish from the lowest prices from all analysed countries. On the other hand, Poland has lowered the VAT for food products recently. Ing. Petr Král, Ph.D. adds: “After all these years doing this research, we can see the trend quite clearly. The smaller countries tend to be more expensive than bigger countries. Also, the Czech customers are willing to accept the higher prices, it seems…”
The whole comparing report about the prices of food and drug goods in the Czech Republic, Austria, Germany, Poland and Slovakia was broadcasted in the ČT series called “Černé ovce”, 19 April 2022. You may rewatch it here. (Note: In Czech language only.)