Cost of Living Report: 2014 Update

Cost of Living Report: 2014 Update

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Last year the Czech National Bank devalued the Czech Crown. You might be wondering how this will affect things from the cost of groceries to a night out. 

Despite the devaluation, some prices have remained more or less than same since our last list. The inflation rate, which the Czech Bureau of Statistics gives based on the consumer price index, sat at 1.4% for December 2013. While the inflation rate has been quite low, the average monthly wage, which according to the Czech Bureau of Statistics is a little under 25,000 CZK, has lost some purchasing power, which this graph demonstrates.

On average, rental prices have risen by about 2% across Prague. This average, however, hides the regional variation. Prague 1 rentals have gone up by 3.5% while Prague 2 rentals have decreased by 2.8%. This figure happened to be the largest drop. The area with the largest increase was Prague 8 with 5.3%. The difference compared to the prices given in our last table is that the prices are based on the averages given here and calculated using the average size for each apartment type.

The figures should be viewed as a rough guide to prices based on the most generic examples of products. You will find variation depending on where you live, where you shop and hang out and the time of year. The occasional special can drop the price of some goods considerably. Organic and/or imported food will be more expensive.

Despite these developments, Prague remains fairly inexpensive compared to most European capitals with the exception of consumer items, which are often more expensive when compared to other countries in and outside of Europe.

Cost of Living Report: 2014 Update

*There are fewer stands operating than before.
**If you visit pubs outside the center you will find cheaper beers.

Cost of Living Report: 2014 Update

*The price for milk is a rough average. Prices vary depending on whether the milk is UHT, fresh or bio. Specials can also bring the price below the average.
**There seemed such a broad range of prices it made no sense to average it. The lower price represents the generic brands; the higher price is for the “better quality”.
***Again a rough average. Some beers can be as low as 7 CZK with Pilsner Urquell selling for over 20 CZK. The price does not include the 3 CZK refundable deposit for beer bottles.
****An average of the prices in the category.

Cost of Living Report: 2014 Update

*Prices as given on the Prague Mass Transit webpage on 27th January 2014.
**Prices depend on the taxi company.
***Prices given on 27th January 2014.

Cost of Living Report: 2014 Update

*Prices vary depending on time of year and deals that the table shows the lowest prices found for 2014 on 27th January.

Cost of Living Report: 2014 Update

These prices are an average of the market rent as of 27th January 2014.

Cost of Living Report: 2014 Update

*This figure is based on the average of the main providers. The price was calculated for a one person apartment with electricity for cooking and gas for heating and hot water. To check other possible prices visit this site (in Czech).

Exchange Rate

The following show how many crowns for one unit of the given currency:

EUR: 27.475
GBP: 33.298
USD: 20.117

The rates are from the Czech Central Bank as posted on 27th January 2014.

For the 2012/2013 edition and its comments, please click here
For the 2011 edition and its comments, please click here

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