World

Not New York but this is the most expensive city in world: Report

The Economist Intelligence Unit (EIU) said on Thursday that Singapore and Zurich were tied for the most expensive city in the world this year, followed by Geneva, New York, and Hong Kong.

However, the EIU issued a warning that the global cost-of-living crisis was still ongoing.

For more than 200 frequently used goods and services, prices have increased by 7.4% annually on average in local currency terms. This is less than the record 8.1% increase that occurred last year, but it is still “significantly higher than the trend in 2017-2021,” according to a report.

Due to high prices in a number of categories, Singapore rose to the top of the rankings for the ninth time in the previous eleven years.

The city state has the most expensive transportation in the world because of stringent government regulations on the number of cars. It is also one of the priciest prices for groceries, clothing, and alcoholic beverages.

According to the report, Zurich’s growth was caused by the strong Swiss franc as well as expensive food, home goods, and entertainment.

Hong Kong came in fifth, followed by Los Angeles in sixth.

According to the report, price increases in Asia are still generally lower than in other regions.

Chinese cities have declined in the rankings; Osaka and Tokyo in Japan are among the major decliners this year, along with four Chinese cities: Nanjing, Wuxi, Dalian, and Beijing.

Also Read: Telengana assembly election: 20.64% voter turnout recorded till 11 am

Shivanshi Srivastava

Recent Posts

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

15 mins ago

Dalal Street Sees Strong Activity Of IPOs In June As Market Sentiment Improves

India’s primary market experienced a surge in activity in June 2025 as investor sentiment toward…

54 mins ago

ITC’s Non-Cigarette FMCG Business Sees ₹34,000 Crore Consumer Spend In FY25

Consumers spent over ₹34,000 crore on ITC’s non-cigarette fast-moving consumer goods (FMCG) products in the…

1 hour ago

Montana Delegation Praises ‘Magical’ Experience During Study Visit To India

A ten-member delegation from the US state of Montana, comprising seven high school students and…

1 hour ago

India Poised To Outpace G7 Peers, Says PHDCCI Study On G7‑India Collaboration

India will continue to expand faster than any G7 economy over the rest of this…

2 hours ago

Morgan Stanley Maintains Bullish Outlook On Indian Equities For Q3 FY26

Global brokerage firm Morgan Stanley has expressed continued optimism about Indian equity markets heading into…

2 hours ago