In 2023, household expenditures in the European Union increased by just 0.5%, according to a press release from the EU statistical office.
In comparison, this figure rose by 5.7% in 2022.
Spending on restaurants and hotels last year grew by 4.6%, transportation by 4.3%, and leisure and culture by 3%.
Meanwhile, expenses on furniture, household appliances, and ongoing home maintenance showed the most significant decline, dropping by 4.9%. Additionally, Europeans reduced their spending on food and non-alcoholic beverages (-3.7%), as well as alcohol and tobacco products (-2.2%).
In 2023, the average salary in the European Union was €37,900 per year, which is 6.5% higher than the previous year's level (€35,600), as reported by Eurostat.
The highest figure was recorded in Luxembourg (€81,100), followed by Denmark (€67,600) and Ireland (€58,700). The lowest salaries were in Bulgaria (€13,500), Hungary (€16,900), and Greece (€17,000).