New York, Singapore Are the World’s Most Expensive Cities Right Now

Upasana Dutt, head of worldwide cost of living at EIU, said: “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. We can see the impact in this year’s index, with the average price rise across the 172 cities in our survey being the strongest we’ve seen in the 20 years for which we have digital data.”