The most expensive EU country is Ireland, the most affordable prices are in Romania

According to the latest data European Statistical Office, the country with the highest cost of living in the European Union is Ireland. In 2022, prices for consumer goods and services there were 46% higher than the European average. The top 3 most expensive countries also include Denmark and Luxembourg. The lowest price level was recorded in Romania (42% lower than the EU average). Italy is closest to the European average. According to Eurostat, Denmark leads among the EU countries in terms of the cost of clothing and footwear, and Bulgaria has the cheapest alcohol and tobacco products.

It should be noted that in non-EU Iceland and Switzerland prices are even higher than in Ireland. In 2022, they exceeded the EU average by 60–70%. And Norway in terms of the cost of living is generally comparable to Denmark. At the other end of the continent, in the Balkan countries, the price level is generally comparable to the Romanian ones. Although in North Macedonia they are even lower – minus 50% of the EU average.