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Cost of Living Report: 2014 Update

Cost of Living Report: 2014 Update

Just how far will your salary stretch in the Czech capital these days?

Cost of Living Report: 2014 Update

Cost of Living Report: 2014 Update

Just how far will your salary stretch in the Czech capital these days?


Published 18.03.2014
Last updated 28.03.2014
COMMENTS (6)

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First of all, if you're going to be relocating or spending an extended time here in Prague, you will definately need this guide. Download it for free, right now.

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

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

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Comment from: Arturo.Garcia Published: 05:44:03 15.04.2015
In Mexico is similar, there's no way an adult person could move out of his/her parent's with those salaries. But I get paid in dollars so I have a good lifestyle in Prague, when I was living in L.A. I was poor :(
The problem is ...(Guest) Published: 04:49:42 12.04.2015
... and always was that you cannot buy anything for your money in this country. Just go to a normal grocery store. It's a desaster. Czechs still have no idea about good and/or international food... If you don't believe me: Check out Eidam/Edam cheese -- they really belive it is the kind of cheese worth to be eaten (and it's horrible, btw) ...
EV(Guest) Published: 09:38:55 15.05.2014
Hello, I live in Brno not Prague. When I was hired to come to the Czech Republic, I was given a salary that was way lower than my salary in other European Countries, not to mention the US. The company gave me a link to a cost-of-living site and it seemed like it was going to be cheaper. However, once I was in Brno, I realized that things end up being even more expensive .. and certainly given that my net salary is like 400 Euros less than it was outside of CZ, it makes no sense. I give some examples: They say rent is cheaper in CZ. Sure it is but not as much as in these comparison sites. Maybe if you have 2 months to search, you speak Czech and you can negotiate, you can get that price, but if you like me show up with only 1 week time to find an apartment right when University is starting, you will get a high price. Also these prices always mention things like "Bear" is cheaper. I don't drink. Regarding restaurants: For me they used to be luxury, so I wouldn't count it in my expenses. However, Groceries are clearly too expensive in CZ. Think of it, the grocery store is SPAR, a german brand and they bring things from Germany and Austria, so obviously the price is even higher than in Germany and Austria, with the miserable pay of CZ. I don't have to explain why electronics are also more expensive... obviously an Apple product or Lenovo are more expensive here than in the US because they are imported. My question, request is: Does anybody have a site or a link to an article that debunks and proves wrong the argument that expenses are lower in Czech Republic? If it is Brno specific so much better. I would like to show something like that to my employer, because with the low salary I'm considering leaving CZ.
Comment from: Rob_Prague_2004 Published: 10:24:27 28.03.2014
Don't want to nit-pick but it seems you've converted the CZK price to EUR at around 24.5 rather than the 27.475 you stated. The GBP conversion is fine though. On the other hand, if people read this after the CNB stops playing it's FX games then the Euro prices here will be more accurate :)
Don(Guest) Published: 07:37:55 27.03.2014
Factors have to be taken into account when looking at these numbers. Here in the U.S. I know for sure so I can only assume the same is true across the globe. I mean gas(petrol) here in Illinois you will pay around $2 a liter, but cross the border into Missouri and you will pay around $1. (at this point in time) States here differ a lot with taxes and prices just soar as you get into areas like Chicago and New York. Another example would be cigarettes, here you pay around $8 a pack, cross the border and pay $3.50. So I recommend you really do your homework if traveling, these sites can be helpful, but also deceiving. If traveling in the U.S. try to get out of the major urban centers and you will see the difference! (Also as a note, read comments in the 2012 page before this. Us Americans tend to be more friendly outside of the major cities, there is A LOT more to the U.S. than just New York City! Come visit us.)
Comment from: dexter1 Published: 06:39:57 18.03.2014
Who pays that much for a beer? HA!