Helsinki ranked in the top ten in the comparison of petrol prices. Gasoline was even more expensive in Helsinki than in Stockholm, Rome and Amsterdam.
Israel Tel Aviv is the most expensive city in the world in terms of cost of living, says The Economist Intelligence Unit (EIU) comparison. EIU is the research and analysis division of The Economist.
In Tel Aviv, which ranked fifth last year, the price of alcohol, food and travel in particular has risen. Tel Aviv’s ranking in the comparison is also raised by the Israeli currency shekel strong exchange rate against the US dollar.
In 2020, Paris was named the most expensive city in the world, ranking second in the comparison with Singapore.
Helsinki shared 17th place with London, says CNN. Helsinki ranked in the top ten in the comparison of petrol prices. Gasoline was even more expensive in Helsinki than in Stockholm, Rome and Amsterdam.
Research says inflation has pushed up prices significantly in several major cities. In this year’s survey, inflation rose by an average of about 3.5 per cent. Last year, inflation rose by an average of 1.9 per cent.
Read more: Eurozone inflation bounces to a all-time record in statistics – How long can prices continue to rise and what will the ECB do?
The effect of the corona pandemic is also shown in the comparison. Global supply chain problems and the consequent shortages of some consumer goods have caused prices to rise.
In Iran, Tehran made the biggest jump in the year, rising from 72nd to 29th. Prices in Tehran were boosted by very high inflation and commodity shortages fueled by US sanctions on Iran.
Annually a Worldwide Cost of Living study to be published in 2021 compared the prices of more than 200 commodities in 173 different countries. The study calculates a price index for cities by comparing them to the price level in the city of New York.
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