What many New Yorkers sensed has just been confirmed in a study by The Economist Intelligence Unit: living in New York is quite expensive. In fact, the city is among those that top the list of the most expensive cities in the world, as is Los Angeles.
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The Economist Intelligence Unit (EIU) examined 173 cities on five continents and compared the cost of things like housing, transportation, and food. The result was that the Israeli city of Tel Aviv, is in the first place. They follow him Paris and Singapore (tied for number two and three), while Zurich and Hong Kong they ranked fourth and fifth. The sixth place is occupied by New York.
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New York has seen in 2020 a significant increase in the gasoline and food prices, to the extent that even their Fast-food restaurants they had to raise their prices.
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In ninth place is The Angels, something that has not surprised its residents, who throughout the year have seen their finances impacted by the increase in the cost of housing, gasoline and food. inflation in Los Angeles and Orange counties it was 4.6% in September compared to 2020 and in the Inland Empire it quadrupled to 6.7%.
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The list of the first twenty places on the list is this:
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2 Paris (tied for second with Singapore)
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2 Singapore (tied for second with Paris)
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15, 16 Y 17 Melbourne, Helsinki and London (tied)
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18, 19 Y 20 Dublin, Frankfurt and Shanghai (tied)
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As explained in the official report, which can be downloaded here, the pandemic of covid-19 has greatly affected the world, since the cost of living has risen significantly everywhere.
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“Although most economies are now recovering as vaccines are implemented, major cities around the world still experience frequent spikes in cases, causing renewed social restrictions,” the survey says. “In many cities, this has disrupted the supply of goods, leading to shortages and higher prices.”
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According to the study, in New York, the price of housing and even clothing has skyrocketed in a very remarkable way.
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In last year’s world rankings, the Big Apple came in seventh, tied with Geneva. And in 2018, in another study it had been as the most expensive city in the world.
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