Price level indices illustrate the relative cost of goods and services among different nations, taking into consideration purchasing power parities. Western and Northern European countries typically exhibit higher price levels, regardless of their income levels, which are not factored into these assessments.
Source: https://www.euronews.com/business/2025/07/06/cost-of-living-which-are-the-cheapest-and-most-expensive-countries-in-europe