Ireland is one of the most expensive countries to live and shop, finds International Price Comparison Study

EMBARGOED: 10th December 2008: Ireland is becoming a more expensive place to live and shop. Despite the prices of many consumer items falling in the last year, a global study has found that Ireland has gone from the sixth most expensive place in the world in 2007 to the fourth in 2008.

Now in its sixth year, the International Price Comparison study from PriceRunner.co.uk, the impartial price comparison service, tracks the prices of basic foods such as milk and coffee, popular consumer gadgets and travel and entertainment goods like petrol, bus tickets and DVDs. Carried out in 23 countries, it shows that Ireland is now more expensive than Sweden (5), Finland (6) and England (7). Norway is revealed as the world’s most expensive country for the second year running and China remains the cheapest country overall.

*please see notes to editors for full country listings

Prices on essentials such as condoms and nappies have fallen in Ireland but not as much as the rest of the world. Ireland is officially the most expensive place to have sex, with condoms costing more in Ireland than anywhere else. A packet of 12 Durex will set you back a whopping €11.04 compared to just €7.93 in the UK, nappies also cost more than the UK with an average pack costing €7.82 in Ireland compared to €6.22. The study also reveals that a litre of milk has increased in price, rising from €0.81 in 2007 to €0.87 this year.

There’s good news however for Irish gamers, a Nintendo Wii now costs €221.00, down from €269.96 in 2007. A PS3 has also become more affordable at €355.93, down by €147.39 from last year, suggesting that if you didn’t get one for Christmas in 2007, you might stand a good chance if you add it to your Christmas list for 2008.

Norway remains the most expensive place in the world for a bottle of Absolut Vodka 70cl. It will set you back a staggering €28.06 in Norway compared to just €6.17 in China, a difference of 78%. A bottle of Absolut will cost you on average €20.46 on the Emerald Isle. Visitors to Norway are also advised to avoid soft drinks, cigarettes and fast food, with Norway topping the poll on a sixth of the 24 items researched and coming close to the top of the list for most of the others.

Peter Carlsson, General Manager, PriceRunner.co.uk, said: “Whilst Ireland’s individual prices have decreased, overall it has become more expensive than in 2007. With the recently announced increase in VAT to 21.5% on certain goods, the Irish are being squeezed further, Ireland looks set to stay an expensive place to live and shop.”

Christmas gadget bargains!

With Christmas just a few weeks away, trips to the US could prove particularly fruitful if you’re planning on grabbing the latest gadgets. A Canon Powershot G9 digital camera is cheapest in the US, costing just €311.13, however the same camera in Denmark will set you back a bank-breaking €487.70, and a whopping €448.785 in the UK, 30.7% more than the US.

Mp3 players are also cheapest in America, with a 16GB iPod touch costing just €199.20 compared to a jaw dropping €272.18 in Lithuania, a sizeable difference of 26.6%. The study also advises consumers to avoid Lithuania for games consoles as you risk paying up to 63.5% more, a Nintento Wii will set you back € 458.41 compared to just €166.71 in the Big Apple. The study found that overall the price of games consoles globally seems to have plummeted in the last 12 months.

Other key findings

• Ireland comes in at €8.22 for a cinema ticket in 2008 compared to €9.50 in 2007. Lithuania is top of the flicks, a ticket will set you back just €3.63
• Public transport has remained reasonably steady in Ireland with a slight decrease from €1.00 in 2007 to €0.93 in 2008
• The price of cigarettes has fallen in Ireland with 20 Marlboro Lights now costing €6.72, down from €7.05 last year. Smokers are best avoiding Norway, where a pack of 20 will cost you €7.48, an unbelievable 86.9% more than Shanghai, where 20 cigarettes cost just €0.98
• The price of milk in Ireland has risen steadily up from €0.81 in 2007 to €0.87 in 2008. Tokyo is the most expensive place in the world to purchase milk at €1.59, compared to the Czech Republic where a pint costs just €0.49
• Vodka has decreased in price in Ireland, from 2007 (€22.08) to €20.46 in 2008. In Shanghai a bottle costs just €6.17
• Big Macs don’t change much where ever in the World you eat them but the price does! There is a 68% difference between bargain Shanghai (€1.22) and pricey Norway (€3.78), while the price of the popular burger is €3.30 in Ireland, down from €3.40 in 2007
• Parents have had an easier ride in Ireland this year with the price of nappies falling from €9.79 (2007) to €7.79 (2008). Parents are hit hardest in Italy, with a pack of 28 Pampers Nappies costing you €8.28 compared to just €5.05 in Greece
• Don’t go to Iceland for gadgets – the study unveils Iceland as the most costly place to buy luxury items such as games consoles, with an Xbox costing a whopping €329.01 compared to €177.65 in Belgium, 45.9% more. Iceland, fell in the middle of the global price index as the 13th most expensive country overall

About The Study

Below is the international ranking list for 2008, providing the most expensive and cheapest price for each product.

Table comparing Ireland pricing information 2007 and 2008

Overall country ranking 2008

Key Product Comparison Ireland

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About the study

Where possible, three prices were collected for each product and the mean average was used as the country’s price for the product. No less than two prices per product per country have been used, with the exception of those products where prices are standardized, e.g. alcohol in Sweden or McDonalds. Prices, in most cases were collected from multiple-outlet retailer stores, to ensure that they are as closely representative of each country’s typical prices as possible.

Exchanges rates were taken from www.xe.com

Live rates at 2008.12.05 10:36:44 UTC

The prices were collected October 1st to 21st, 2008

About PriceRunner

www.PriceRunner.co.uk, a division of ValueClick, Inc. (Nasdaq: VCLK), is the UK’s most comprehensive and independent price comparison company. Online prices are updated on a daily basis by a specialist team that develops and manages cutting edge technology which hunts down the cheapest online prices available. PriceRunner is unique in that, unlike other price comparison sites, a dedicated team of PriceRunners also checks prices in high street stores. PriceRunner always lists the cheapest price first and is completely independent in that it lists all retailers, regardless whether they pay or not, to provide consumers with a complete overview of the market.

About ValueClick, Inc.

ValueClick, Inc. (Nasdaq: VCLK) is one of the world’s largest online marketing services companies, offering comprehensive and scalable solutions to deliver cost-effective customer acquisition for advertisers and robust revenue streams for publishers. ValueClick’s performance-based solutions allow customers to reach their potential through multiple online marketing channels, including affiliate and search marketing, display advertising, lead generation, ad serving and email technology, and comparison shopping. ValueClick brands include Commission Junction, ValueClick Media, Mediaplex, PriceRunner and Smarter.com. For more information, visit www.valueclick.com.

This release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, the risk that market demand for on-line advertising in general, and performance based on-line advertising in particular, will not grow as rapidly as predicted, and the risk that legislation and governmental regulation could negatively impact the Company’s performance. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. Important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under “Risk Factors” and elsewhere in filings with the Securities and Exchange Commission made from time to time by ValueClick, including, but not limited to: its annual report on Form 10-K filed on February 29, 2008; recent quarterly reports on Form 10-Q; and other current reports on Form 8-K. ValueClick undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.