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No more cheap shopping in Latvia

By September 18, 2014No Comments
Daily Mail | September 18, 2014

iPhones, IKEA furniture and Zara clothes cost the same across eurozone as euro levels prices

The euro has succeeded in creating a single, unified market when it comes to the price of similar goods in member states, according a recent study.

Research by the University of Chicago Booth School of Business found that prices for products by Apple, IKEA, H&M, and Zara were virtually identical in countries where the currency is the euro.

The research team used data from MIT’s Billion Prices Project, which scrapes price information from the internet, to compare the online prices for almost 120,000 products on the same day in 85 countries between October 2008-May 2013.


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