The Ranking of the Most Expensive Countries in Europe. Where Does Italy Stand?

Cost of Living in Europe: Where Does Italy Stand?

What are the most expensive countries in Europe and where does Italy rank in this list? According to an interesting Eurostat report comparing the price levels for final household consumption expenditure in 2023, some notable findings have emerged.

Price Comparison Across European Countries

The comparison has highlighted substantial variations among European Union nations regarding the cost of goods and services used on a daily basis.
In general, the highest price levels (measured as a percentage above the EU average) were recorded in Denmark (43% above the average), Ireland (42% above the average), and Luxembourg (35% above the average).
Conversely, the lowest price levels were observed in Bulgaria and Romania (40% below the average).

Italy’s Position in the European Price Landscape

Italy, however, is not among the most expensive countries in the EU, as indicated by the Eurostat analysis of the latest price levels of goods and services consumed in the European Union.
Italy’s prices compared to the EU average show a slight decrease of about 1% across general household consumption.

Here’s a breakdown of Italian prices by consumption sectors compared to the EU average: food and non-alcoholic beverages: +2.3% above the average; alcoholic beverages and tobacco: 9.2% below the average; clothing: 4.3% above the average; footwear: 6.8% below the average; energy: 16.7% above the average; furniture and furnishings: 8.1% above the average; appliances: 3.0% below the average; consumer electronics: 8.2% below the average; transport: 13.9% below the average; hotels and restaurants: 7.1% above the average.

Energy Prices Across EU Countries

An intriguing comparison lies in the field of energy prices, which have become increasingly crucial for both EU economies and consumers in recent years.
The table below showcases energy prices in EU countries relative to the average:

• Bulgaria: 47% below the average
• Belgium: 15.8% above the average
• Italy: 16.7% above the average
• Denmark: 21% above the average
• Germany: 23.7% above the average
• and more…

These figures shed light on the cost of living in Europe, with Italy holding a distinct position within the diverse price landscape of the European Union.