Question: Which country is costliest country to live in the world as per the Cost of Living Index 2021?
(a) New York
(b) Tokyo
(c) Tel Aviv
(d) Karachi
Ans: c
Recent Context
- The Cost of Living Index 2021 was released by the Economic Intelligence Unit recently.
Related Facts
- Worldwide Cost of Living explores the cost of living in 173 cities, measured against impactful global events.
- The index bench marks the prices against the prices in New York.
- As per the index prices for goods and services have risen by 3.5% year-on-year, the highest inflation rate seen in the last five years.
- Tel Aviv is the world’s most expensive cities. It was followed by Paris in second place and Singapore in third place.
- In 2020, Paris was the most expensive city according to the index.
- The highest price rise was reported in the Iranian city Tehran. It jumped from 79th rank in 2020 to 29th rank in 2021. This was mainly due to US sanctions.
- The Syrian city Damascus was ranked the lowest.
By Kameshwar Shukla
Reference:
https://www.eiu.com/n/campaigns/worldwide-cost-of-living-2021