IP/02/791
Brussels, 31 May 2002
Consumers say euro changeover a success but understanding prices still remains a problem
A new Eurobarometer poll published today by the European Commission shows that European citizens are generally satisfied with the euro changeover. However, difficulties still remain in understanding prices and values in the new currency. EU citizens also believe that the introduction of the euro has been used to disguise price rises. Statistics show that there have been price rises in some areas - like restaurants, food, hairdressers, taxis - in the last three months, although it is not possible to say whether these are due to the euro or other factors.
Health and Consumer Protection Commissioner David Byrne said “This poll shows that consumers have coped well with the new currency. I am however concerned that in some sectors prices have increased at above average rate, for example in the food or in the hotel and restaurant sector an average of four percent. The effect of these increases has been more prominent in the minds of consumers than the effect of the compensatory decreases for example in the communications or transport sector by an average of one percent. I remain concerned by the possibility that certain increases in the prices of commonly purchased goods and services may be explained by the fact that some retailers are seeking to exploit the situation to hike up prices. I condemn such practices."
The Commissioner made it clear that his message to consumers was twofold: firstly, no one should scaremonger or ignore the reassurance offered by the available price statistics. Secondly, politicians and consumers alike should confirm the continued resolve to address any attempts by retailers to exploit the situation.
Detailed results of the Eurobarometer study
Thinking in euro still difficult
Price understanding is analysed in different ways: the capacity to remember prices (41.2% consider this difficult), to compare prices (38.7% consider this difficult) and to recognise the price level for everyday goods (milk, petrol, eggs, a CD, a take-away pizza). Nevertheless, in most cases about 60 to 70% of the people questioned have a fairly good idea of simple and current goods’ prices in euro.
Difficulties in understanding prices may arise from the fact that 44% look at prices only in national currency or sometimes also in euro. 70% continue to think always or often in their old national currency. 68.3% convert euro prices always or often in old national currency prices. Therefore, not surprisingly, most consumers consider that dual pricing remains necessary: 72.1 % consider that, for themselves, dual pricing is essential or fairly useful.
The difficulties in understanding prices and values may partly explain the strong belief that prices have increased following the introduction of the euro. 68.5% are convinced that prices were rounded up in all areas and 15.1% only in certain areas. Those who feel that prices did not go up or were even rounded down are only 8.3%.
Changeover experience smooth
As observed in previous polls, consumers express a high degree of satisfaction with the changeover to the euro: 78.7% feel that for consumers in general this took place without any difficulty or only with some temporary difficulties. When asked how they themselves found the changeover this rises to 84.1%. 60.4% are pleased that the euro became their own currency. Handling the new notes and coins, as well as their use as a means of payment, does not seem to pose major problems, though more people have difficulties using the coins (28.7%) than the notes (8.3%).
Results reveal that those who provided the most help when the euro was introduced, were the media (45.1%), family and friends (34.8%) and banks/bank employees (34.7%). Nearly 40% knew about the “Euro Made Easy” information campaign launched by the European Union and Member States and targeted at specific groups like blind, deaf, mentally handicapped and old people. Of these 40% nearly 30% say they had benefited from it.
Half of the people questioned have seen the Euro-Logo, which is displayed by retailers who signed up to the European agreement that defined six voluntary commitments and aimed to strengthen consumer confidence in the euro. Retailers agreed to dual display of prices, information on the euro, as well as guarantees on the correct use of conversion rates and rounding rules. However, only 22.2% of those who had noticed the Euro-Logo, consider that it has given them more confidence.
Background
In April 2002, about 12,700 people in all 12 Member States of the Euro zone were asked about how the euro changeover operation was perceived by them, their understanding of prices in euro, the actual use of the new coins and notes, their feeling of price increases, the information campaign and the Euro-Logo initiative. Results of this Eurobarometer 57.1 opinion poll were published today by the European Commission. These results are supported by a qualitative study, also published today, on how the introduction of euro was perceived by the public in general, and in particular by the elderly and persons with socio-economic difficulties.
The full results of the Eurobarometer 57.1 (in English and French) and the qualitative study on the citizens and the euro (in French) are available on the Europa internet site:
http://europa.eu.int/comm/consumers/policy/developments/euro/index_en.html.
Annex: Results of key questions of Eurobarometer 57.1
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