Cost of Living Report: 2014 Update

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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.

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

*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.

*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.

*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).

EUR: 27.475
GBP: 33.298
USD: 20.117

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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What do you (and your wallet) have to say about the cost of living in Prague?