EU household spending grew by 1.5 per cent in 2024

Household final consumption expenditure in the EU, when corrected for inflation, grew by 1.5 per cent in 2024 compared with 2023, according to Eurostat.

This increase was stronger than in 2023, when the growth stood at 0.4 per cent.

Among the main categories of household spending, information and communication increased the most, rising by 5.7 per cent.

This category was followed by recreation, sport and culture and transport, both of which saw growth of 3.0 per cent.

Expenditure on restaurants and accommodation services continued to grow, increasing by 1.6 per cent, though this was at a noticeably slower pace than in the previous year.

By contrast, alcoholic beverages, tobacco and narcotics were the only categories to register a decline, falling by 2.2 per cent.

Clothing and footwear also registered a decline, decreasing by 0.6 per cent, confirming the downward trend observed in the previous year.