Tel Aviv Is Named , the Most Expensive City, in the World.
On Dec. 1, the Economist Intelligence Unit released
this year's Worldwide Cost of Living report.
173 countries' prices of goods
and services were examined.
Tel Aviv was deemed the
most expensive city in the world.
Prices here are similar if not more expensive than in Washington, yet the salaries don’t compare, Oren Kessler, political analyst, via NBC News.
The strength of the country's currency,
the shekel, is partly to blame.
According to the report, prices in Tel Aviv have increased by about 1.6 percent.
Tied for the second most expensive city in the world are Paris and Singapore.
Tied for the second most expensive city in the world are Paris and Singapore.
The most expensive American city,
number six on the list, is New York.
Over the coming year, we expect to see the cost of living rise further in many cities as wages increase in many sectors, Upasana Dutt, head of worldwide cost of living at the Economist Intelligence Unit, via press release.
However, we are also expecting central banks to raise interest rates, cautiously, to stem inflation. So the price increases should start to moderate from this year’s level, Upasana Dutt, head of worldwide cost of living at the Economist Intelligence Unit, via press release