The most expensive cities in the world – level 2

11-12-2023 07:00

Singapore and Zurich are now more expensive than New York, according to the EIU Index.

The index analyzes prices for things goods and services in 173 world cities globally, for example, transport, rent, food, and alcohol. Geneva, New York, and Hong Kong are among the top five most expensive cities. Global prices increased by 7.4%, which was a little less than in the previous year. Food prices continued to rise, while strong demand for traveling after the pandemic meant an increase in transport prices.

In 2024, experts expect higher interest rates, less business activity, and consumer demand.

Difficult words: index (a sign or measure of something), demand (when many people want to buy something), interest rate (extra money which you pay for borrowing money).

You can watch the original video in the Level 3 section.

What factors contributed to the increase in global prices and which cities were among the top five most expensive in 2023 according to the EIU Index?


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