Oriented on making people closer

Consumer prices across European countries show significant variation, according to the latest Eurostat data published by Euronews. The study, which examined 36 countries, compared over 2,000 goods and services using Purchasing Power Parity (PPP) to reflect real differences in cost of living.

Switzerland reported the highest price level in 2024—84% above the European Union average—while Turkey had the lowest, at 47% of the EU average. The findings highlight a wide economic spectrum across the region and offer key insights for consumers and businesses assessing expenditures.

Within the European Union, Luxembourg recorded the highest price level, at 51% above the average. Bulgaria and Romania ranked as the most affordable EU countries, with prices 57% below average.

Other countries exceeding the EU average included Denmark (143%) and Ireland (141%). Germany (109%) and France (108%) slightly surpassed the average, while Italy (98%) and Spain (91%) remained close to or just under it.

The geographic trends show Western and Northern European countries—such as Norway, Finland, and Iceland—with generally higher costs. Meanwhile, Central and Eastern Europe remains more affordable, offering greater access to a broad range of goods and services.

The report also breaks down prices by category. In alcohol and tobacco products, the largest gap was between Ireland (205% of the EU average) and Bulgaria (69%). Similar disparities were seen in the hospitality and restaurant sectors.

By using PPP, the index provides a neutral comparison of how much can be purchased for the same amount of money in different countries, independent of currency exchange rates or income levels. The tool serves as a reliable benchmark for cross-border economic planning and consumer budgeting.

ORIENT

Photo: The Associated Press