An annual analysis, published Tuesday by The Economist Intelligence Unit (EIU), compared the price of more than 150 items in 133 cities around the world.
div > div.group > p:first-child"> The annual analysis, published Tuesday by The Economist Intelligence Unit , compared the price of more than 150 items in 133 cities around the world.
According to the EIU, Paris has been one of the ten most expensive cities since 2003. New York and Los Angeles were the only two U.S. cities to make the top ten.Currency volatility also played a role in the ranking, making the Turkish and Russian capitals of Istanbul and Moscow more affordable. On the other hand, London climbed up the ranking as the British pound rebounded from prolonged volatility fuelled by Brexit.
Tel Aviv was the only Middle Eastern hub to be ranked among the ten most expensive cities in the world. Elsewhere in the region, Istanbul plummeted 48 places to 120th place – a result of its"uncontrollably high inflation," the EIU said. "Political instability is becoming an increasingly prominent factor in lowering the relative cost of living. This means that there is a considerable element of risk in some of the world's cheapest cities," the report said."Put simply, cheaper cities also tend to be less liveable."
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