Filenews 20 February 2023
At a time when everyone is talking about inflation but most importantly Cypriot consumers feel it, it is important to see what is happening in other countries, according to Numbeo data and how much money a household should have per month to make ends meet. According to the data presented by "F" from the Numbeo website, the estimated monthly cost of the family of four in Nicosia is €2.637.70 without rent and for one person it is estimated that the monthly cost is €753.10 without rent. For Limassol the monthly cost is estimated to be €2,869.42. Of course, in addition to the monthly cost, it should be taken into account how much is the average monthly salary in each country.
Comparisons
The website in the cost of living comparison states that one will need about €3.376,3 in Athens to maintain the same standard of living that he can have with €3.300 in Nicosia (assuming he rents in both cities). Consumer prices in Athens are 8.8% higher than in Nicosia (without rent). Consumer prices including rent in Athens are 2.3% higher than in Nicosia. Rental prices in Athens are 17.7% lower than in Nicosia and restaurant prices in Athens are 0.3% lower than in Nicosia. The local purchasing power in Athens is 36.2% lower than in Nicosia. It should be noted that purchasing power is an indicator that shows whether people have money and are spending or suffering.
If the comparison between Limassol and Athens is made, the search engine of the Numbeo website shows that one will need about €3.370,2 in Athens to maintain the same standard of living that he can have with €4.400 in Limassol (assuming that he rents in both cities). Consumer prices including rent in Athens are 23.4% lower than in Limassol. Rental prices in Athens are 61% lower than in Limassol, restaurant prices in Athens are 10.4% lower than in Limassol. The local purchasing power in Athens is 24% lower than in Limassol.
A family of four in France is estimated to have monthly expenses of €3,127.5 without rent. For one person it is estimated that the monthly cost is €872.60 without rent. The cost of living in France is, on average, 22.4% higher than in Cyprus. Rent in France is, on average, 14.4% lower than in Cyprus. Local purchasing power in France is 57.2% higher than in Cyprus.
The estimated monthly cost of a family of four in Italy is €2,757 without rent, according to the Numbeo website. For one person a monthly cost of €78.5.10 is calculated without rent. The cost of living in Italy is, on average, 9.3% higher than in Cyprus. Rent in Italy is, on average, 27.4% lower than in Cyprus. Purchasing power in Italy is 21% higher than in Cyprus. The estimated monthly cost for a family of four in Estonia is €2,562.1 without rent and for one person it is estimated at €760.10 without rent. The cost of living in Estonia is, on average, 2.4% lower than in Cyprus. Rent in Estonia is, on average, 41.8% lower than in Cyprus. Purchasing power in Estonia is 13.8% higher than in Cyprus. The estimated monthly cost of a family of four in Germany is €2.901,4 without rent and for one person €846.40. The cost of living in Germany is, on average, 12.8% higher than in Cyprus and rent is, on average, 7.4% lower than in Cyprus. Purchasing power in Germany is 96.8% higher than in Cyprus.
The estimated monthly cost of a family of four in Ireland is estimated by the Numbeo website at €3,215.40 without rent and for one person €911.20. The cost of living in Ireland is, on average, 26.9% higher than in Cyprus. Rent in Ireland is, on average, 63.4% higher than in Cyprus. Purchasing power in Ireland is 48.2% higher than in Cyprus.
The estimated monthly cost for a family of four in Luxembourg is estimated at €3.302.50 without rent and for one person is estimated at €948.20. The cost of living in Luxembourg is, on average, 28.5% higher than in Cyprus. Rent in Luxembourg is, on average, 66.3% higher than in Cyprus. Purchasing power in Luxembourg is 145.2% higher than in Cyprus.
How various prices fluctuate
According to the Numbeo website the average price for a meal in Cyprus in a cheap restaurant is €13 with the maximum price reaching €20. The meal for two people in a mid-range restaurant is on average €50 with the maximum amount reaching €80. For purchases from the supermarket, the average milk price is €1.50 and the maximum can reach €2.40. The average selling price of one kilo chicken fillet is €7.32 and the maximum is €9.95, veal (1kg) has an average selling price of €9.98 and the maximum can reach €15. The average selling price for apples (1kg) is €2.34 and the maximum can reach €3, the average price for a kilo of tomatoes is €2.34 and the maximum €3.89. The average price for a kilo of potatoes is €1.12 and the maximum price is €2.
