See the ranking of cities with the most expensive cost of living in the world in 2022

See the ranking of cities with the most expensive cost of living in the world in 2022 (Photo: Getty Images)

See the ranking of cities with the most expensive cost of living in the world in 2022 (Photo: Getty Images)

  • The global cost of living increased by 8.1% in 2022;

  • The increase is a result of the impacts generated by Russia’s war in Ukraine and the lingering effects of the pandemic;

  • The EIU study analyzed 400 individual prices on more than 200 products and services in 172 cities.

The global cost of living increased by 8.1% in 2022, according to the World Cost of Living Index released by the Economist Intelligence Unit (EIU). The study points out that the increase is a result of the impacts generated by Russia’s war in Ukraine and the prolonged effects of the pandemic.

“The war in Ukraine, Western sanctions on Russia and China’s Covid-zero policies have caused supply chain issues which, combined with rising interest rates and changes in exchange rates, have resulted in a cost of living crisis. all around the world”. Upasana Dutt, EIU’s head of worldwide cost of living, said in a press release.

In addition to disclosing the cost of living index globally, the survey also analyzes cities around the world individually. To create an annual list of the most expensive places to live, the EIU compared more than 400 individual prices on more than 200 products and services in 172 cities.

“We can clearly see the impact on this year’s index, with the average price increase across the 172 cities in our survey being the strongest we’ve seen in the 20 years for which we have digital data. The rise in gasoline prices in cities has been particularly strong (like last year), but food, utilities and household items are getting more expensive for city dwellers,” said Dutt.

Cities with the highest cost of living in 2022

  1. New York, USA

  2. singapore

  3. Tel Aviv, Israel

  4. Hong Kong

  5. Los Angeles, USA

  6. Zurich, Switzerland

  7. Geneva, Switzerland

  8. San Francisco, California, USA

  9. Paris, France

  10. Copenhagen, Denmark

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