How Brazilian cities appear in the ranking of the most expensive places in the world

New York (US) and Singapore (a city-state) will be the cities with the highest cost of living in 2022, according to the Economist Intelligence Unit (EIU), which assessed conditions among 172 places.

This year’s research showed local currency prices in the world’s biggest cities rose by an average of 8.1% – the fastest growth in at least 20 years.

This reflects a “global cost-of-living crisis brought on by the war in Ukraine and continued Covid-19 restrictions in China,” according to the EIU report.

And ranked Brazilian cities? Rio de Janeiro and São Paulo appear together at number 137 (in 2021, both were at 149) and Manas at number 155 (in 2021, it was at 159). oh Absolute Ranking (Global Cost of Living) Available only from EIU upon purchase.

Below is a list of ranked cities with the highest and lowest costs of living.

1 and 2. Singapore and New York (USA) Eq

4 and 5. Hong Kong and Los Angeles (USA) Eq

10. Copenhagen (Denmark) and Sydney (Australia)

Source: Economist Intelligence Unit

161, 162 and 163. Colombo (Sri Lanka), Bangalore (India), Algiers (Algeria)

166. Almaty (Kazakhstan)

167. Karachi (Pakistan)

168. Tashkent (Uzbekistan)

Source: Economist Intelligence Unit

According to the EIU, this is the first time New York has topped the list – joining Singapore, which regularly tops the rankings, and the eighth time in ten years at the top. In 2021, the first place on the list was occupied by Tel Aviv, which this year is in third place.

“A combination of high incomes and a strong exchange rate pushed Singapore and New York to the top of our 2022 rankings,” the report notes. “A strong currency and high inflation rate pushed these two cities to third place with Tel Aviv.”

The survey was conducted from August 16 to September 16, 2022 and took into account the prices of more than 200 goods and services in 172 cities around the world. This year, Kiev, Ukraine, was excluded from the survey due to its war with Russia.

The report points out that the biggest impact has been the rise in global petrol prices. Also, at this point, prices in Brazil have fallen and the government “used control of the state oil company Petrobras to lower prices and increase fuel subsidies this year – but still (Jair Bolsonaro’s government) was defeated by voters in the October presidential election”.

The report also highlighted rising prices of public services like electricity and food.

In 2023, the EIU says, “the good news is that prices may start to fall in some countries as interest rate hikes and economies slow.”

“Unless the war in Ukraine escalates, we expect prices to increase materials Commodities such as energy, food and metals are likely to fall sharply in 2023 compared to 2022 levels, although they will remain above previous levels.”