EIU’s Worldwide Cost of Living survey has been published recently in which cities with the highest cost of living have been announced. The survey announced that prices in 172 cities in the world have gone up by %8.1 due to reasons such as the Ukraine war and pandemic restrictions.

The bold increase in the oil and gas prices has negatively impacted economies in cities around the world. A litre of petrol has risen by %22. Also, some currencies lost values and it weakened many cities’ economies, especially many European cities. Less dependence on Russia’s energy by Europeans resulted in raising prices by %29.

Moscow is in the 37th position as they were in the 72nd last year, this is mainly because of the war in Ukraine in February 2022.

The EIU’s survey was conducted in a month, from August 16th to September 16th. It shows that New York and Singapore are the most expensive cities in the world while Tel Aviv, which was the third in last year’s ranking, is now in the second position. Los Angeles and Hong Kong are in fourth place. On the other hand, Damascus (Syria) and Tripoli (Libya) are the cheapest cities.

The survey includes comparison of cost of living in the 172 cities and analysed the prices of 200 goods and services. Significantly, it demonstrates %8.1 worldwide inflation rise.