The list of the most expensive and cheapest cities in the world is ongoing

The list of the most expensive and cheapest cities in the world is ongoing

Looking at the bills at the beginning of each month, it appears that the prices have increased compared to the previous month.

The lifestyle expenses have indeed increased significantly during 2022.

The Economist Intelligence Unit (EIU) has released the list of the most expensive and cheapest cities for 2022.

According to the list, lifestyle expenses have increased by 8.1% due to the impact of Russia’s invasion of Ukraine and the impact of the corona virus epidemic.

According to the report, the Ukraine war, Western sanctions on Russia and China’s zero-covid policies have created supply chain problems, while record interest rate hikes and other changes in various countries have significantly increased lifestyle costs around the world.

We can see the impact in this year’s list, the report said, with average price increases in the 172 cities surveyed being the highest in 20 years, with food and household goods in particular becoming the most expensive. .

This 2022 list of the most expensive and cheapest cities included 172 cities and collected data on the prices of hundreds of goods and services during August and September and then compared them to the US dollar.

Petrol prices rose the most globally (an average of 22 percent), while electricity, food and basic commodities also rose.

Taking all factors into consideration, New York and Singapore were jointly ranked among the most expensive cities in the world.

This is the first time that New York has been named the world’s most expensive city, which was ranked sixth in last year’s list.

Similarly, Tel Aviv, the most expensive city in 2021, has now moved to the third place.

Hong Kong and Los Angeles were jointly ranked as the fourth most expensive cities, while the Swiss cities of Zurich and Geneva were ranked sixth and seventh, respectively.

The US city of San Francisco was ranked 8th, Paris 9th, while Copenhagen and Sydney were jointly ranked 10th most expensive cities.

As far as the world’s cheapest cities are concerned, for the third year in a row, this honor was given to the Syrian capital Damascus.

Libya’s capital Tripoli is second, Iran’s capital Tehran is third, Tunisia’s capital Tunis is fourth, Uzbekistan’s city of Tashkent is 5th and Karachi is the 6th cheapest city.

According to the report, the impact of inflation on Asian cities has not been as pronounced as in other regions.

Lifestyle spending in Asian cities rose an average of 4.5 percent.

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