Tel Aviv is the most expensive city in the world to live in as rising inflation has pushed living costs soaring around the world, according to an annual survey released today.
The Israeli city surpassed Paris and Singapore in accuracy and climbed five places and reached the top of the Economist world rankings for the first time.
The Global Living Cost Index compares US dollar prices for goods and services between 173 cities.
Tel Aviv climbed to the top because of the strength of the Israeli national currency – the shekel – against the dollar, as well as because of rising transport and grocery prices.
Paris and Singapore share second place, followed by Zurich and Hong Kong. New York is in sixth place and Geneva in seventh.
Completing the top ten, Copenhagen is in eighth place, Los Angeles in ninth and Osaka in Japan in tenth.
Last year, the first place in the ranking was shared by Paris, Zurich and Hong Kong.
The Iranian capital rose from 79th to 29th place as US sanctions pushed up prices and caused shortages.
Damascus was named the cheapest city in the world.
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