The general conclusion of the research is that the average increase in the cost of living for 2022, compared to the previous year, is 8.1%.
"The war in Ukraine, Western sanctions against Russia and China's zero-Covid policies have created problems in the supply chain, which combined with rising interest rates and changes in currency rates have led to a rise in the cost of living in all over the world," EIU head of research Upasana Dutt said in a statement after the results were announced.
She added that this impact is clear, as the average price increase in the 172 cities studied in the research is the largest in the 20 years that digital data has been available. The increase in fuel has been significant (as it was last year), but also food, utilities and other household goods are becoming more and more expensive for city dwellers.
In a year of high cost of living, what are the most expensive cities to live in?
The 10 most expensive cities in the world for the Economist Intelligence Unit:
1- New York and Singapore
3- Tel Aviv
4- Hong Kong and Los Angeles
6- Zurich
7- Geneva
8- San Francisco
9- Paris
10- Copenhagen