Prices vary from place to place within the UK. One would expect the same to occur throughout the Eurozone also. With the exchange rate in flux, one might expect further price discrepancies. But not as large as what I have viewed recently. The exchange rate currently hovers around 1.20€ to £. Yet, socks priced at £6 are priced at €9 here; a top worth £10 sells for €14, and a £40 textbook is sold for €57 (the direct conversion would be €49). Overpricing is clear, but is there more going on?
VAT may give a hint: the standard rate is 23% – higher than the 20% in the UK. Nor is it so very long ago that the UK had VAT at 15%. But 3% would cause a value change in pennies, not pounds. Are the retailers hiding behind the excuse of currency fluctuations and taxes? Are they artificially affecting the exchange rate? Is it simply that the cost of living here in Dublin is higher than the UK – even than London?
I don’t know. But I feel the effects on my wallet.
Signing off,
Erasmus Who?
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