Inflation has recently affected all European countries, though the situation is much tighter in some places. Not a single country has been able to raise wages at the same rate as inflation, resulting in a loss of purchasing power.
The average salary increase in Europe is 4.1%. It means that Poland, Portugal, and Germany have outperformed the norm. Ireland is only 0.1 point higher than the mean. Meanwhile, wages in Italy, France, Spain, and the Netherlands are rising at a slower rate.
The Netherlands has suffered the greatest loss of purchasing power in Europe. It reaches close to 15%. It is followed by Italy and Spain, both of which are losing 6.4% of their purchasing power.
Data source: OECD.