Cost Of Living Climbing For Expats In Europe

299

The cost of living in the European Union climbed an average 1.6% in June – the same as the official data reported in May.

The year-on-year figure has fallen 0.5% from 2.1%, says Eurostat, the official EU data tracker.

The European Central Bank (ECB), whose monetary policy committee meets next week, targets a rate of close to but below 2%.

MCP members have expressed readiness to step in to support increasing inflation by raising interest rates.

Highest and lowest rates

The most expensive inflation rates are in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%).

Booking.com

The lowest are in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%).

Across Europe, the cost of living rate dropped in 17 countries, was the same in one and increased in nine.

The highest contribution to annual eurozone inflation came from services (+0.73%), followed by food, alcohol & tobacco (+0.30%), energy (+0.17%) and non-energy industrial goods (+0.07%).

Inflation in the United states is running at an annual rate of 1.6% – up 0.1% from April, but down from 1.9% a year ago.

Read the full Eurostat report

European Union/Eurozone inflation rates – May 2019

 Annual rateMonthly rate
Eurozone1.3%0.2%
European Union1.6%0.1%
Belgium1.3%-0.1%
Bulgaria2.3%0.0%
Czech Republic2.4%0.2%
Denmark0.5%-0.3%
Germany1.5%0.3%
Estonia2.6%0.5%
Ireland1.1%0.2%
Greece0.2%0.6%
Spain0.6%-0.1%
France1.4%0.3%
Croatia0.5%0.3%
Italy0.8%0.1%
Cyprus0.3%1.2%
Latvia3.1%0.3%
Lithuania2.4%-0.3%
Luxembourg1.5%-0.3%
Hungary3.4%-0.2%
Malta1.8%1.3%
Netherlands2.7%-0.1%
Austria1.6%-0.1%
Poland2.3%0.2%
Portugal0.7%0.4%
Romania3.9%-0.4%
Slovenia1.9%0.3%
Slovakia2.7%0.1%
Finland1.1%0.0%
Sweden1.6%-0.2%
United Kingdom1.9%0.0%
Iceland2.2%1.6%
Norway2.1%0.1%
Switzerland0.7%0.2%

Source: Eurostat

Download the Free Pension Transfer Guide

Expat Pension Transfers Guide

iExpats.com expert writers have created a simple guide to Expat Pension Transfers just for you.

Find out how you could save tax, increase growth and investment opportunities with this simple, no-nonsense guide that will introduce QROPS, SIPPs and QNUPS options and talk through the pros and cons. Download the free guide by following the link below

Leave a Reply