These are the 10 most expensive cities in the world, according to ‘The Economist’

Within a year, the Israeli city of Tel Aviv has climbed four places and has been positioned as the most expensive city on the planet, according to the classification made by the publication ‘The Economist’. Behind the reasons for this rise is the strengthening of the shekel, the local currency, and an accelerated inflation. This has caused an increase in the prices of food, raw materials, alcohol and transport.

From behind, they follow him Paris, Singapore, Zurich -the three cities that shared the top spot on last year’s list-, Hong Kong, New York, Geneva, Copenhagen, Los Angeles and Osaka. It is the ‘top ten’ of the most expensive localities in the world prepared by The Economist Intelligence Unit (EIU) after comparing the prices of more than 200 products and services in 173 cities around the world.

The data, collected in August and September, reflects a 3.5% increase in prices, the strongest rise in inflation recorded in the last five years. The report also shows that the average cost of a liter of unleaded gasoline in all cities it was 21% higher than the previous year.

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“The remarkable increase in the prices of natural gas in Europe and Asia and panic purchases at petrol stations in Great Britain occurred too late to influence this year’s ranking, “says ‘The Economist’ to warn that” they do not bode well for prices in 2022. “

The EIU attributes the high prices of goods in much of the world to the problems of supply chain related to the coronavirus pandemic.

Reference-www.elperiodico.com

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