Can anyone help with an older Euro Pro EP055, It has very little suction.

Cleaning filters on a bagless vacuum helps but filters should be replaced frequently, as often as every 3 to 6 months on some vacuums. Foam filters aren't as critical to replace because the pores are very large (which also means they don't filter out the small particles) so they don't clog as easily but paper filters have much tighter pores which become clogged and restrict the airflow. Cleaning paper style filters with water which can pack the fine dust into the pores clogging the airflow even more.
I recommend replacing filters st least onceor twice per year and cleaning them after each use for best performance and longer vacuum life. Blowing the dust out with an air compressor is my preferred method.
Changing filters frequently on a bagged vacuum isn't as critical because the bag collects most of the fine dust, dirt and gunk. The surface area of a bag is much greater than that of a filter so a bag is less likely to get clogged than a filter. Most homeowners change the bag once per month which keeps the air flowing smoothly.