The three most expensive cities in the world are Hong Kong, Zurich and Paris, according to a new study on the cost of living published by the Economist.
Singapore and Osaka, which are with Hongkong last year shared the championship place, now they are positioned a little lower.
The capital of Serbia is also on the list and ranks 90th out of about 130 largest cities in the world in terms of cost of living.
Belgrade stood out for being among the cities that recorded the biggest jump in ranking compared to last year - it climbed 12 places.
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Prices in Serbia
You may have felt the price changes in your own pocket. Data from the Republic Institute of Statistics show that prices in Serbia in September 2020 compared to the same month last year increased by an average of 1,8 percent (we took this period since the same period was used by the Economist team; more recent data await you a little lower ).
Compared to August 2020, prices are in in September fall by an average of 0,5 percent.
In this period, the prices of products and services in the groups of recreation and culture (down by 6,4 percent), food and non-alcoholic beverages (down by 0,5 percent), clothing and footwear (down by 0,3 percent) fell the most.
Alcoholic beverages and tobacco, as well as furniture, household appliances and ongoing apartment maintenance have become cheaper.
On the other hand, communications have become more expensive (0,9 percent), and you may have noticed that your bills for the apartment, water, electricity, gas and other fuels are higher. The prices of these products and services increased by 0,1 percent each.
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The same price increase was felt in the field of transport, health and education.
The Republic Institute of Statistics issues monthly price index reports. The last one is available for the month of October, and prices increased by 0,1 percent compared to the previous month.
Compared to September, the prices of clothing and footwear (2,2 percent), communications (0,6 percent), restaurants and hotels (0,4 percent), recreation and culture (0,3 percent), healthcare (0,3 percent), education (0,2 percent).
Transportation became cheaper (by 0,4 percent), as well as food and soft drinks (by 0,1 percent).
According to the report for October, compared to September, prices increased by an average of 0,1 percent, and compared to October 2019, an increase of 1,8 percent was recorded.
Let's go back to the Economist's list.
Changes in the ranking of cities compared to last year, according to the authors, were also caused by the Covid-19 pandemic.
In the annual report of this magazine, it is stated that prices in Singapore fell due to the exodus of foreign workers due to the pandemic.
Most Chinese cities have risen in price as US-China tensions drive up prices.
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"Asian cities have traditionally dominated the list in recent years, but the pandemic has rearranged the ranking this time," says Upasana Dutt, author of the Worldwide Cost of Living Report.
Bangkok also fell 20 places and is now 46th most expensive.
The report is aimed at expats, with data used by multinational companies to help them calculate the costs of business travel and arrangements.
Most Chinese cities climbed the rankings largely thanks to the US-China tech war, which has affected supply chains and raised consumer prices.
According to Economist's analysis, the Syrian city of Damascus is the cheapest to live. Uzbekistan's Tashkent, Zambia's Lusaka, Venezuela's capital Caracas are next, while Kazakhstan's Almaty is the fifth cheapest.
The ten most expensive cities:
- Zurich
- Paris
- Hong Kong
- Singapore
- Tel Aviv
- Osaka
- Geneva
- New York (serves as a basis for comparison)
- Copenhagen
- Los Angeles
Expensive Europe
Cities in North and South America, Africa and Eastern Europe are less expensive compared to last year, while cities in Western Europe have become more expensive.
Among the 10 most expensive cities according to this index, even four are from Western Europe, and Zurich and Paris share the first position.
Geneva and Copenhagen are in seventh and ninth place.
This partly reflects the relative strength of European currencies on an index that compares each city to the cost of living in New York.
The largest increase in costs was experienced by the capital of Iran, Tehran, which moved 27 places in the ranking due to US sanctions that affected the supply of goods.
Belgrade is also in the category of cities that have seen the biggest changes in the past 12 months. Among the 10 cities that jumped the most on the list, it ranks fourth and compared to last year it climbed 12 places.
In the overall index, Belgrade is positioned as the 90th most expensive city out of 133 cities.
Along with Belgrade and Tehran, among the cities that recorded the greatest progress on the list compared to last year are Perth (12 seats), Kidney (11 seats), Dusseldorf (11 seats), Dakar (11 seats), Brussels (11 seats), Amsterdam (11 places).
On the contrary, compared to the last list, they became cheaper Reykjavik (down by 27 places), Sao Paolo (23 seats), Rio de Janeiro (23 seats), Bangkok (20 seats), Moscow (20 seats), Mexico City (18 seats), Kiev (15 seats), Istanbul, (15 places), and the Kenyan capital Nairobi (14 places).
More expensive cigarettes, cheaper shirts
The Cost of Living Index compared the prices of 138 goods and services in around 130 of the largest cities in September.
Overall, prices were fairly flat, but the report said staple prices were more resilient than other goods.
Logistical challenges also affected prices, as shortages of goods such as toilet paper and pasta increased in some categories.
In the 10 categories included in the report, the prices of tobacco and recreation increased the most, while the prices of clothing recorded the largest decrease.
"As far as consumer goods are concerned, there has been a sharp rise in the prices of computers, while the prices of clothes have seen a decline," said Dutt.
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