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Changes in Living Standard of Austrians
Politics ♦
Published: December 31, 2010; 15:38 ♦ (Vindobona)
A WIFO study compares the required average working time of industrial workers to the purchase of goods and services over the passage of time.
Changes in Living Standard of Austrians / Picture: © Vindobona.org
A comparison of the evolution of prices with the development of income can provide a rough picture of the changes in the living standard. The consumer price index is used as an indicator of the evolution of prices of goods and services.
Net hourly earnings of men serve as a measure of income evolution. The relative prices based on labor presented, may therefore not reflect…
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