Even before you’ve considered dealing with the red tape, you might be wondering how far your salary will stretch in the Czech capital. Once again we’ve created an up-to-date table of Prague living costs in Czech, European, British and US currency.
Since our last table was published for 2011, there have been increases in the cost of food. Basic food like eggs and milk for example have risen to new highs, often as a direct result of EU regulations and lower resulting imports. Due to a rise in petrol and diesel fuel prices, transport costs have risen as well. The same applies to electricity. Essentially, higher transport prices lead to an increas in many food prices.
Hotels have seen prices remain relatively the same and as always, these are highly seasonably biased.
So far this year (as of 7.8.2012), the EUR has seen a downfall versus the Czech koruna, only to gain recently. The GBP has seen an initial downturn, followed by strong gains towards the summer months. Finally, the USD has followed virtually the same developments as the GBP, ending up strong throughout the summer of 2012.
Within the Czech Republic, the avarage gross salary for the year 2011 was 24321 CZK /month. The first quarter of 2012 is showing a gross figure of 24126 CZK /month. Salary for Prague is higher and the first quarter of 2012 gross figure is at 31845 CZK /month. Predictions seem to indicate a slowdown in salary growth as a result of overall slowdowns largely affected by the Eurozone crisis withing the EU.
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.
1 USD = 20.33 CZK
1 GBP = 31.66 CZK
1 EUR = 25.17 CZK
(As of August 6, 2012)
NOTES: This is a rough guide to prices only and all prices are based on a median. Prices include VAT (value added tax), which remains at 20% full rate, or 10% reduced rate.
The average costs were taken from the Tesco supermarket. An inexpensive meal for one was calculated at a main course (a schnizel or goulash), plus potatoes or dumplings, and two beers. The meal for two at a mid-range restaurant included the soup of the day, main courses, dessert and wine. Remember prices near the tourist centers are maybe 25% to 30% higher than the average.
There are two caveats regarding housing prices and utilities. A number of factors will determine rental price, such as proximity to historical areas, whether the flat is in a modern, old or panel building and the flat’s size. Utilities will depend on heating and the energy efficiency of appliances. Comparing prices is advisable. Choosing the right company could save you consiserable amounts.
Related articles: Employment and Wages in the Czech Republic