March 15, 2024

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Price of Sports Goods & Services: Sharp Increase in 2022

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Price of Sports Goods & Services: Sharp Increase in 2022

In the EU, inflation significantly picked up speed in 2022. The same applied to sports-related products and services.

By using the harmonized indices of consumer prices (HICP), which was the highest measurement in the previous ten years, the annual rate of change for the prices of leisure and sporting services in the EU in 2022 was 4.7%. In comparison to the all-items HICP (+2.0%), these services experienced a faster annual average rate of change over the period 2012–2022, at 2.2%.

The cost of outdoor recreation, camping, and sporting equipment increased significantly more quickly in 2022 than it had in previous years, with an annual rate of change of 3.8%, +2.5 percentage points higher than in 2021.

In the past ten years, there have been significant fluctuations in the cost of sporting, outdoor camping, and recreational equipment. In 2014, annual rates of change reached negative values (-0.6%), rose to +0.7% in 2016, dropped back to negative values between 2017 and 2019, and then remained negative in 2020. Their growth began in 2020, and it culminated in 2022, when it reached its highest level. The average annual rate of change for this category from 2012 to 2022 increased by 0.3% despite the fluctuations.

Tomorrow, April 6, is International Day of Sport for Development and Peace, a time to recognize the value of sports and physical activity for individuals, communities, and global development.

Reference: ec.europa.eu

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