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US News: Tel Aviv propelled at the top of the most expensive cities of the world

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  Tel Aviv propulsée en tête des villes les plus chères du monde © Gideon Markowicz / Xinhua

d 'After the annual study of The Economist, revealed Tuesday, November 30, Tel Aviv has supplanted Paris and Singapore as the most expensive city of the world. The ranking of the British newspaper emphasizes that supply chain issues have raised prices in many cities. The Global Cost of Life Index, published by The Economist Intelligence Unit (EIU), Class 173 cities according to prices according to a basket of more than 200 products and services.

In 5th position last year, Tel Aviv becomes the most expensive city in the world for the first time. According to the study, this position reflects the vigor of the Israeli currency, the Shekel, facing the dollar, because the index is based on comparison prices in New York. After sharing the first place with Zurich and Hong Kong in 2020, Paris recedes to the second position, which she occupies with Singapore in this new edition. The increase in measured prices is the fastest recorded for five years, 3.5%. "Procurement chain issues have contributed to the rise in prices, COVID-19 and social restrictions still weighing on production and trade around the world," The Economist.

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Damascus remains the cheapest city in the world because of a currency that collapses against the dollar and therefore prices. In green tickets that plunge, the civil war continuing to decimate the local economy. The Syrian capital suffered a very strong inflation as Caracas, Buenos Aires and Tehran, the latter having recorded the strongest advance in the rankings, from the 79th to 29th place, the American sanctions causing shortages and price increases. "In general, the top of the ranking remains dominated by European cities and Asian cities developed while North American and Chinese cities keep relatively moderate prices," says the study.

The cheapest cities - in dollars - are mainly in the Middle East, Africa or in the poorest parts of Asia. The transport costs flew in the wake of gasoline prices, but tobacco or entertainment also recorded sharp price increases. "During the coming year, we expect to see the cost of living increase more than in many cities as wages are increasing in several sectors," Upasana Dutt, director of the study. "However, we anticipate that central banks are rates, cautiously, to curb inflation. Price increases should begin to diminish, "she adds.

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