The ISRAELI port city of Tel Aviv was declared the most expensive city to live in, according to the magazine “Economist”.
Tel Aviv took the first place from Paris, which now shares the second position with Singapore.
Tel Aviv jumped on the list partly because of the strength of the national currency against the US dollar, as well as because of the increase in the prices of transport and groceries.
Next on the list are Zurich, Hong Kong and New York, followed by Geneva, Copenhagen, Los Angeles and Osaka.
Damascus, the capital of war-torn Syria, is the cheapest city to live in.
Restrictions on the movement of people and goods have disrupted the supply of various goods, leading to shortages and rising prices, said Upasana Dut of the Economist.
– We clearly see the impact on this year’s index, and especially fuel prices have jumped – she pointed out, adding that central banks are expected to raise interest rates in order to carefully reduce inflation.
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