GDP per capita, consumption per capita and price level indices

OverviewIn 2023, Luxembourg and Ireland recorded the highest levels of GDP per capita in the EU, at 139% and 111% above the EU average. Bulgaria was the EU Member State with the lowest GDP per capita, at 36% below the EU average. Levels of actual individual consumption were somewhat more homogeneous, but still showed significant differences across Europe. Luxembourg recorded the highest level of AIC per capita in the EU, at 38% above the EU average, as well as the highest price level, at 52% above the EU average.Figure 1: Volume indices of GDP and AIC per capita, 2023, (EU=100)Source: Eurostat (prc_ppp_ind)Relative volumes of GDP per capitaIn international comparisons of national accounts data, such as GDP per capita, it is desirable not only to express the figures in a common currency, but also to adjust for differences in price levels. Failing to do so would result in an overestimation of GDP levels for countries with high price levels, relative to countries with low price levels. Co...