With the cost of living going up again, it's been an expensive year -- and these are the world's most expensive cities to live in in 2022.
, the average cost of living is up 8.1% in 2022, owing to the Russian war in Ukraine and the lingering effects of the pandemic."The war in Ukraine, Western sanctions on Russia and China's zero-Covid policies have caused supply-chain problems that, combined with rising interest rates and exchange-rate shifts, have resulted in a cost-of-living crisis across the world," Upasana Dutt, head of worldwide cost of living at EIU, said in a media statement.
There were four European cities in the top 10 -- Zurich was the highest, with Paris, Copenhagen and fellow Swiss city Geneva rounding out the rest. Unsurprisingly, Russian cities Moscow and St. Petersburg both saw significant hikes in cost of living expenses, while Ukraine capital Kyiv was not analyzed this year.
In total, 22 of the 172 cities the EIU tracks annually are in the US, including Portland, Boston, Chicago and Charlotte. Every single one of those 22 experienced a rise in inflation this year.Get ready for the most expensive holiday travel season everIn order to create the list, the EIU compares more than 400 individual prices across more than 200 products and services in 172 cities.
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