New York was named the most expensive city in the world jointly with Singapore / AFP photo
New York was named the most expensive city in the world jointly with Singapore / AFP photo

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

Lifestyle expenses have really increased significantly during 2022.

2022 Most Expensive and Cheapest Cities by Economist Intelligence Unit (EIU) List has been released.

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 coronavirus outbreak.

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

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

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

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

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

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

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

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

The American 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 went to Damascus, the capital of Syria.

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

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

Lifestyle spending in Asian cities increased by an average of 4.5 percent.