Britain - The economy and everyday life

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continent      durables      exchange rate     fares      property     put up with      sums       weak

Visitors to Britain are often shocked by the prices. Of course, exactly how expensive it seems to any one visitor depends on the at the time. But even when the pound is relatively , Britain does not emerge as a cheap country. It generally has higher prices than other countries whose living standards and type of economy are about the same. What visitors to Britain notice is that it costs a lot to buy fresh vegetables, rent an apartment, get a cup of coffee, a cocktail, a beer, a meal, or stay in a hotel. But a whole range of consumer and services such as home electronic products and designer clothes are also more expensive than in other large European countries. The most spectacular British 'mark-ups' are in the area of transport, where are generally double what they are on the . Only a few items, among them DVDs, CDs, books, and tea (of course!) are cheaper in Britain. Why is Britain so expensive? One possible reason is the very high cost of , which has a wide-ranging knock-on effect. Another is the lack of the competition which is encouraged between other European countries because they use the same currency. But perhaps the real reason is simply that British people are accustomed to paying a lot. If so, the only hope is that, as more of them are able to do the and compare what they paid while on their holidays abroad, they refuse to the high prices any longer.