Photo: PixabayNew York and Singapore have been ranked as the world's most expensive cities, according to the Economist Intelligence Unit's (EIU) annual global cost of living survey.
New York is at the top of the ranking for the first time, while Singapore is in first place for the eighth time in 10 years.
Israel's Tel Aviv, which was declared the most expensive city in the world in 2021, is in third place this year.
Apart from New York, Los Angeles and San Francisco also moved up the list of the ten most expensive cities. All 22 US cities covered by the survey rose in the rankings due to rapid price growth and a strong dollar. Six of them – Atlanta, Charlotte, Indianapolis, San Diego, Portland and Boston – were among the 10 cities that showed the biggest jumps on the scale.
The Russian cities of Moscow and Saint Petersburg moved up the most, jumping by 88 and 70 places, respectively.
Most European cities fell on the list.
The Syrian capital Damascus and Libya's Tripoli remain the cheapest cities.
This year's survey was conducted from August 16 to September 16 in 172 major cities in the world.
"The war in Ukraine, Western sanctions against Russia and China's zero-covid policy have caused supply chain problems that, combined with rising interest rates and exchange rate fluctuations, have resulted in a cost-of-living crisis around the world," said Upasana Dutt, head of the EIU's deals with the cost of living, reports Hina.
Source: hina.hr
