Inflation, a war in Ukraine and knock-on effects from the pandemic has launched New York City and Singapore to jointly hold the title of the most expensive city in the world as the average cost of living is up 8.1 per cent in 2022.
This results from this year’s Worldwide Cost of Living Index, released by the Economist Intelligence Unit (EIU) on Thursday, mark the first time that the Big Apple has topped the list, as Tel Aviv – 2021’s most expensive city – fell to the number three spot.
