The government has always emphasized recently – given that inflation in Austria has been above the eurozone average for many months – that purchasing power in this country has nevertheless been maintained through various measures. Today it is confirmed with reference to an analysis by the EU statistical authority, Eurostat. This shows a slight increase in real median net disposable income from 2021 to 2022, adjusted for inflation and purchasing power.
Eurostat reported the third highest average net real disposable income among EU states for Austria in the previous year, at 25,119 euros. In 2021, according to EU authorities, it was 24,450 euros.
“The combination of aid to support purchasing power, specific measures to reduce prices and costs for electricity and structural measures ensures that, despite all the challenges, life remains affordable for people”, commented the Minister of Finance, Magnus Brunner (ÖVP). “According to the budget service, purchasing power has been maintained, especially in the low-income area,” said ÖVP Minister of Labor and Economy Martin Kocher.
Luxembourg and the Netherlands before Austria
According to Eurostat, only Luxembourg, with 33,214, and the Netherlands, with 25,437 euros, were ahead of Austria in the EU last year. In Germany there was a slight decrease from 23,336 to 23,197 euros from 2021 to 2022. The second most important trading partner, Italy, recorded an increase from 17,304 to 18,472 euros.
In Spain, which maintained relatively low inflation for long periods and at times well below that in Austria, there was an increase from 16,297 to 17,254 euros.
Eurostat published statistics yesterday using the Purchasing Power Standard (PPS). The data is therefore considered adjusted for purchasing power. The median value, in turn, does not correspond to the average, but represents the central value of the measured values ordered by size, which means that outliers are less important.