UK STANDARD OF LIVING DROPS TO SIXTH PLACE IN EUROPE
December 13 2012.


In 2011, the standard of living in the UK dropped two places to the sixth highest in Europe, according to new figures recorded by the Office of National Statistics and compiled by Eurostat. The measure of Actual Individual Consumption (AIC) per head shows Luxembourg, Norway, Switzerland and now Germany and Austria as having higher standards of living in Europe than the UK.
 
AIC (a measure of personal consumption of goods and services) in the UK was 18% higher than the EU27 average compared with 20% higher last year. AIC in Luxembourg was again the highest (40% above the average) with Albania having the lowest (66% below the average).
 
AIC is often used as a measure of households' standard of living as it incorporates all goods and services that a household consumes, including benefits in kind such as health and education.

Prices in the UK were 3% above the EU average in 2011, up from 2% above the average in 2010. Switzerland is now the most expensive country in Europe (65% above the average) replacing Norway from last year, while the former Yugoslav Republic of Macedonia is the least expensive (58% below the average).

The UK was the 14th most expensive country in Europe, up from 15th last year.


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