New York and Singapore top list of world most expensive cities

Di world’s most expensive cities na New York and Singapore, according to di annual Economist Intelligence Unit (EIU) survey.

Na di first time New York dey top di rankings. Tel Aviv wey be di number one last year don dey for third place.

Overall, di average cost of living for di world biggest cities go up by 8.1% dis year, di EIU survey show.

Di war for Ukraine and Covid impact on supply chains dey identified as di factors behind di increase.

Inflation dey particularly high for Istanbul – and prices go up by 86% – Buenos Aires (64%) and Tehran (57%).

High inflation for US na one of di reasons why New York top di list.

Los Angeles and San Francisco also make di top 10 – earlier dis year, US inflation na di di highest in more dan 40 years.

Di strengthening dollar also be factor for di US cities’ prominence.

Moscow and St Petersburg rise through di rankings by 88 and 70 places, to 37th and 73rd place respectively, and one of di reasons Western sanctions sake of Russia invasion of Ukraine.

Di survey compare cost for di US dollars for goods and services for 173 cities. Dem no include Kyiv for dis year review.

Di EIU compare more dan 400 individual prices across ova 200 products and services from 172 cities around di globe.

Upasana Dutt wey dey responsible for leading di research, say di war for Ukraine, Western sanctions on Russia and China’s zero-Covid policies “don cause supply-chain problems”.

“Dis and rising interest rates and exchange-rate shifts cause cost-of-living crisis across di world,” Ms Dutt tok.

She say di average price rise across di 172 cities for di EIU’s survey na “di strongest wey we don see for di 20 years wey we get digital data”.