Europe’s wealth gap: Older households eight times richer than young ones
Summary
ECB survey data show a large gap in household wealth across 22 European countries: households headed by people under 35 have median net wealth of about €25,000, compared with €208,000 for those headed by people aged 55 to 64. Consumer prices in the eurozone, Hungary and the Czech Republic rose 67.2% from 2000, with the sharpest increase among surveyed countries in Hungary.Key Facts
- The survey covers the eurozone, the Czech Republic and Hungary and measures assets minus debts.
- Under-35 households hold 2.8% of household wealth across the 22 countries surveyed; households headed by 55- to 64-year-olds hold 24%.
- In Finland, under-35 households hold 0.8% of household wealth, while people over 55 hold more than 71%.
- Wealth is more evenly distributed by age in several Central and Eastern European countries, including Lithuania, Croatia, Slovakia and Estonia.
- Everyday consumer prices rose 67.2% in the eurozone, Hungary and the Czech Republic between 2000 and the survey’s reporting period.
- Hungary had the steepest consumer-price increase among the countries shown, with prices more than tripling since 2000.
- EU annual inflation reached 9.2% in 2022, driven mainly by higher energy costs; subsequent easing did not reverse earlier price increases.
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