Stil jete

Cities with the highest cost of living during 2021

Cities with the highest cost of living during 2021

Worldwide, high inflation and supply chain problems are raising prices and increasing pressure on our bank accounts.

But the peak of cost of living is felt most strongly in these countries; Tel Aviv, Paris, Singapore, Zurich and Hong Kong - the 5 most expensive cities to live in, according to the World Cost of Living report by the Economic Intelligence Unit.

The Israeli city climbed five places from last year to take first place, largely driven by the rise of their currency and rising prices for about a tenth of the goods in the city.

Paris - the most expensive city of 2020 - shared second place this year with Singapore, Zurich and Hong Kong occupying the fourth and fifth places respectively.

Cities with the highest cost of living during 2021

Most U.S. cities fell in the rankings this year after the government distributed money to the country's economy as part of its response to COVID-19.

The World Cost of Living Survey estimated the price inflation rate at 3.5 percent, which it says is the fastest recorded in the last five years.

This calculation excludes Caracas, Damascus, Buenos Aires and Tehran that are experiencing hyperinflation.

The cheapest cities to live are mainly in Africa, the Middle East and parts of Asia with Damascus having maintained its place as the cheapest place in the world to live since last year.