Tel Aviv (for the first time) most expensive city in the world to live in

This is according to the Economist Intelligence Unit (EIU), an annual ranking of the most expensive cities in the world. Tel Aviv has never been the most expensive city in the world to live in, reports the British newspaper The Guardian.

Top ten

A shared second place goes to Singapore and Paris. Zurich, Hong Kong make up the rest of the top five. New York ranks sixth, followed by Geneva, Copenhagen, Los Angeles and Osaka.

The fact that Tel Aviv is the most expensive city in the world to live in is partly due to the strong national currency, the shekel, against the US dollar. Inflation, more expensive petrol and groceries also made daily life in Tel Aviv more expensive.

The prices of energy and food rose all over the world. For example, the average price of a liter of petrol worldwide rose 21 percent in the past year, the researchers report. They are based on data collected in 173 cities in August and September.

Risers and Fallers

Forty new cities were added to the list. The Scottish capital Edinburgh was the highest newcomer, tied for 27th with Auckland and Minneapolis.

In the Italian city of Rome, life just got cheaper, the city fell 16 places and is in 48th place this year.

Cheapest Cities

The cheapest city in the world to live in is Damascus (Syria), followed by Tripoli (in Libya) and Tashkent, the capital of Uzbekistan.

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