Cost of living index

Cost of Living and Quality of Life Indices for Italy 2023

Life in Italy News

Numebo released their 2023 Cost of Living and Quality of Life indices. Italy did not fare well in the Quality of Life index for European cities, but the Cost of Living index was better reading despite rising costs of basic foods.

Numebo track the cost of living across the world. Their Cost of Living index showed Switzerland to be one of the most expensive places to live in the world, with four of their cities sitting behind Hamilton on Bermuda.

Cost of Living in Italy

In Europe, Basel in Switzerland is the most expensive city with an index rating of 127.0. The highest ranking Italian city is Milan in 27th place with a rating of 73.6, just below London with a rating of 74.2.

Next was Florence in 59th position (66.7), Bologna in 63rd at a rating of 66.2, followed by Genoa in 71st at 65.5.

Compared to July 2021, the average cost of a litre of milk has risen from €1.15 to €1.20, whilst bread has increased to €1.68 from €1.57. 

Cost of living table showing food costs for Italy.
Source: Numebo

Cost variation across the country

The range of prices fluctuates across the country with the southern cities cheaper for most staples in a shopping basket.

For a basket of bread, milk, cigarettes, wine, water, beer, cappuccino and a one-way bus ticket, the average cost is €22.03. In Milan, the same range of goods costs €27.73, whilst in Palermo it costs only €20.09.

Quality of Life Index

Both in Europe and worldwide, the Hague in the Netherlands came out top with a rating of 217.1.

Out of a total of 88 cities, four are Italian. Bologna comes in at a ranking of 139.6 in 54th place, followed by Turin in 62nd (132.4); Milan in 75th at 116.2 and Rome in 77th position with a ranking of 112.9

Taking into account these two ratings, Bologna would be the preferred of the Italian cities featured in which to live.

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