For the First Time,Tel Aviv is Listed as the World’s Most Expensive City

According to a survey released on Wednesday, Tel Aviv is the most expensive city in the world to live in, as increasing inflation has driven up living costs worldwide.

The World Cost of Living Index is calculated by comparing the prices of products and services in US dollars in 173 locations throughout the world.

In the authoritative ranking compiled by the Economist Intelligence Unit, Jerusalem climbed five rungs to take first place for the first time (EIU).

The shekel’s rise versus the dollar, as well as increases in transportation and grocery prices, helped Tel Aviv climb the ranks.

Second place was shared by Paris and Singapore, with Zurich and Hong Kong following closely behind. New York City came in sixth, and Geneva came in seventh.Copenhagen was eighth, Los Angeles was ninth, and Osaka, Japan was tenth.

Last year, Paris, Zurich, and Hong Kong tied for first position in the survey.

Caracas, Damascus, Buenos Aires, and Tehran are the only four cities in the world with extraordinarily high inflation rates.

As a result of US sanctions, the Iranian capital jumped from 79th to 29th place in the ranking.

On the other hand,Damascus has been named the world’s most affordable city.

The numbers for this year were collected in August and September when freight and commodity costs soared, and they reveal that on average, prices rose 3.5 percent in local currency, the quickest rate in the last five years.

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