Life in the Czech Republic is two-fifths cheaper than the average in the European Union, according to a price comparison for 2014 published in the magazine Statistika&My. In that year prices in the Czech Republic were at 59.4 percent of the EU average; this was lower than in countries such as Slovakia and Croatia and placed the Czech Republic in the six members of the bloc with the cheapest prices. However, economist David Marek told the Czech News Agency that local prices are likely to approach the EU average in the long-term.
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