Housing in Tehran is more expensive than in Moscow and Istanbul
The Economist report compares the prices of more than 200 types of products and services in 173 cities around the world. Tel Aviv is the top three most expensive cities in the world in the Occupied Territories, Paris and Singapore.
Zurich in Switzerland is the fourth most expensive city in the world. Hong Kong, which ranked second last year, is now in fifth place. New York is now the sixth most expensive city in the world. After New York, there are the cities of Geneva, Copenhagen, Los Angeles and Osaka, Japan.
On the other side of the list is Damascus, the capital of Syria, the cheapest metropolis in the world. After Damascus, Tripoli in Libya, Tashkent in Uzbekistan, Tunisia in North Africa, Almaty in Kazakhstan, Karachi and Ahmedabad in India, Algiers are the capital of Algeria, Lusaka is the capital of Zambia and Buenos Aires is the cheapest city in Argentina.
Changes in the US dollar exchange rate also affect costs as the 200 economist indicators are calculated against the price situation in New York. For the first time, Tel Aviv tops the list of most expensive cities.
According to The Economist, rising food prices as well as rising transportation costs have been the main reasons for the rising cost of living in Tel Aviv.
Prices have not risen everywhere. Rome has dropped 16 places to 48th and experienced a sharp drop in prices in the clothing category. Most US cities are doing better thanks to government financial stimulus injected into the economy during the Corona epidemic, but the main thing is high prices.
According to The Economist, during August and September, the average cost of a liter of unleaded gasoline was, on average, 21 percent higher in all cities around the world than a year earlier. The sharp rise in natural gas prices in Europe and Asia and the influx of people into petrol stations in the UK occurred after the Economist study; These could have affected this year’s rankings. Undoubtedly, the rise in energy prices in recent months will affect the Economist’s report next year.
Another major change concerns Tehran. The Economist writes that US sanctions against Iran have raised the cost of living in Tehran by 50 steps in the past year. Tehran’s rank has risen from 79th to 29th this year. The cost of living in metropolises such as Moscow, Dubai, New Delhi and Istanbul is lower than in Tehran. At the same time, inflation of 1,766 percent in Caracas was a rare occurrence, albeit accompanied by government intervention in price regulation.
Source: fellow-citizen