Cost of living

Zurich and Singapore are the most expensive cities in the world ahead of New York amid the ever-rising cost of living, according to rankings published Thursday by The Economist magazine.

The British weekly estimated that prices have increased an average of 7.4 percent over the past year in 173 major cities, a slight slowdown compared to a record 8.1 percent inflation in 2022.

A number of goods and services are expected to stabilize at high prices in Cyprus in the coming period, while food prices are expected to rise ahead of Easter. These are the conclusions drawn from the Consumer Price Index for the first two months of 2023, as well as reports from market professionals to Kathimerini Cyprus.

People walking in Istiklal Street in Istanbul, Turkey, 2 December 2021. Photo: EPA-EFE/SEDAT SUNA

The Israeli city Tel Aviv is the most expensive city in the world, according to the British magazine "Economist", DPA reported. As a result, it de facto dethroned the French capital from this position. Paris remains in second place, which it shares with Singapore. Next on the top positions in the ranking are Zurich, Hong Kong and New York. Last is the Syrian capital Damascus.

Sofia is ranked 297th among the 4440 cities the list of the most expensive cities in the world. Our maritime capital Varna ranks 333rd, Plovdiv - 339th and Burgas - 358th.

The cost of living in Istanbul has fallen sharply over the last year, taking the city to 120th place in a list of most expensive cities around the world, down from 44th, according to the Economist Intelligence Unit's (EIU) bi-annual survey of 133 cities released on March 19.

Paris is now the most expensive city to live in the world. An annual survey compares prices of 160 basic commodities in 133 of the world's largest and richest cities. In the first place, with equal figures, are Paris, Hong Kong and the city, which was in the first position 5 times in a row - Singapore. Just behind the list of expensive cities are Zurich, Geneva and Osaka.

Sofia is the most affordable EU city for expat living, shows the 2014 Mercer Cost of Living Rankings annual survey. 

The capital of Bulgaria takes the 172-nd position out of 211 surveyed cities. 

Compared to the 2013 survey, the cost of expat living increased, shows the survey. Last year Bulgaria was at the 181-st place.