In 2024, European Union countries demonstrated significant differences in the cost of living, particularly in food prices, goods, and services. Among all EU members, Luxembourg emerged as the most expensive country, while residents of Romania require the least expenditure on food.
This is reported by Finway
Cost of Living in EU Countries: Where is the Cheapest and Most Expensive
Romania has been recognized as the country with the lowest food prices among EU member states in 2024. Slovakia and Poland also made it into the top three countries with the most affordable prices. At the same time, Luxembourg and Denmark remain leaders in terms of prices for food, clothing, and other everyday goods.
Bulgaria stood out as the country with the lowest prices for alcoholic and tobacco products, fuel, clothing, footwear, and utilities. Bulgaria, along with Romania, also recorded the lowest prices in the entertainment and leisure sector.
Denmark, on the other hand, became the country with the highest prices for clothing and footwear, transportation, cultural and entertainment services, and restaurants. Ireland recorded the highest costs for alcohol, tobacco products, fuel, and utilities.
Average Pension Levels in Europe
“The average pension in the European Union is 1294 euros per month. In different countries, the amount can vary – from 2762 euros in Iceland to 226 euros in Bulgaria.”
Pensioners in Western and Northern EU countries receive the highest pensions. In Iceland, Luxembourg, Norway, Denmark, and Sweden, the average pension exceeds 2000 euros per month. In Finland, Belgium, Ireland, Austria, the Netherlands, and Sweden, this amount ranges from 1700 to 2000 euros.
At the same time, the lowest pensions are observed in Eastern European countries, particularly in Bulgaria, where the average payment is only 226 euros per month. Such a gap in figures indicates significant differences in living standards and social security within the European Union.