Tel Aviv fell from the top spot to third place, according to the analysis published on Thursday. The Economist Intelligence Unit calculated that two Swiss cities, Zurich (6) and Geneva (7), were among the ten most expensive municipalities in the German-speaking world. You can see the list of the ten most expensive cities in the picture gallery:
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The magazine emphasized that because of the Russian war against Ukraine and the corona rules in China, prices worldwide have risen faster than they have in 20 years – by an average of 8.1 percent. Life became significantly more expensive in Moscow and St. Petersburg. They climbed 88 and 70 places in the rankings due to the consequences of western sanctions.
Large western cities were also affected by the consequences of the war. The price of gas and electricity has risen by an average of 29 percent, which is significantly more than the global average (11 percent). The Venezuelan capital Caracas experienced the highest inflation at 132 percent; in the country there has been hyperinflation. It is still cheapest in Syrian Damascus and in Libyan Tripoli.
Source: Nachrichten
