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13.12.12

Standard of living in UK drops – ONS

The UK standard of living has dropped two places to the 6th highest in Europe, according to new ONS figures.

The measure of actual individual consumption (AIC) found that Luxembourg, Norway, Switzerland and now Germany and Austria have higher standards of living than the UK.

AIC incorporates all goods and services that a household consumes, including benefits for health and education.

The UK’s AIC was 18% higher than the EU average this year, compared with 20% higher last year. Luxembourg has the highest AIC, with 40% above the European average and Albania has the lowest, at 66% below the average.

The statistics can be found here.

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