Eurostat: Cyprus among the most affordable EU countries by price level

According to the latest Eurostat report, the price level for goods and services in Cyprus is below the EU average, standing at 95 points compared to the European average of 100.

This means that Cyprus turned out to be cheaper than many EU countries, including Italy (98) and Estonia (96). For tourists this may seem unexpected, yet in real terms the cost of living on the island is comparable to Central Europe.

According to the study conducted in 36 countries, the most expensive were Switzerland (84% above the EU average), Luxembourg (51% above) and Denmark (143%). The most affordable EU countries were Bulgaria and Romania, where prices are 57% lower than the average.

Thus, Luxembourg is about 2.7 times more expensive than Bulgaria, while Switzerland is almost four times more expensive than Turkey — the cheapest country in the ranking.

It is noted that in Western and Northern Europe prices are generally higher — particularly in the Scandinavian countries, Switzerland, Iceland and Ireland. In Central and Eastern Europe, price levels are lower due to cheaper labor.

Eurostat emphasizes that the comparison is based solely on price levels and does not take into account household incomes.