Greeks continue to lag behind their EU counterparts in terms of buying power ranking second to last among 27 member states in 2023, according a flash estimate released this week by Eurostat.

Based on the findings released annually, Greece ranks 26th in terms of income per capita in relation to Gross Domestic Product (GDP) among 27 member states at 33% below the EU average. At the same time, according to 2022 data, prices in Greece are currently at 88.2% of the EU average.

Bulgaria is last with the lowest buying power in the EU at 36% below the EU average.

Leading the way with the strongest purchasing power in the EU (i.e. highest levels of GDP per capita) last year was Luxembourg at 140% above the EU average, followed by Ireland 112%, and the Netherlands at 30%.

Greece’s GDP per capita places it below the EU average again, reflecting economic challenges amid persistent inflationary pressures and a rising cost of living.

Eurostat is set to update data in March 2025.