The EIU also publishes the Democracy Index, which provides an overview of the state of democracy in 165 independent nations and two territories worldwide.The Economist Intelligence Unit is the research and analytical arm of The Economist Group, which publishes The Economist paper.What Is The Economist Intelligence Unit (EIU)? It is followed in the ranking of the cheapest cities by Tripoli (Libya), Tashkent (Uzbekistan), Tunis (Tunisia), and Almaty (Kazakhstan). Damascus (Syria's capital) is the cheapest city.In India, Ahmedabad was ranked among the survey's top ten cheapest cities.Meanwhile, inflation is the fastest it has been in the past five years. Covid-19's impact: Supply chain bottlenecks and the changing consumer demand have increased the cost of living in many of the biggest cities.The 2021 Worldwide Cost of Living Index examines the prices of over 200 everyday products and services in 173 global cities.The index is measured against New York City pricing, which means that cities with currencies that are stronger against the US dollar would likely appear higher in the rankings.New York was ranked sixth, and Geneva was ranked seventh. Paris and Singapore are in second place, while Zurich and Hong Kong placed in third and fourth, respectively.Tel Aviv, Israel's capital city, has topped the rankings for the first time, surpassing last year's leader Paris, which is now at second place with Singapore.What Is The Worldwide Cost Of Living Report? It compares different cities' cost of living indices. The Economist Intelligence Unit (EIU)compiled the report. The Worldwide Cost of the Living report was recently released that highlights Tel Aviv (Israel's capital) as the most expensive city in the world to live in.Relevance: GS2 - Urbanization, Reports and IndicesĬlick here for Daily Current Affairs Why In The News?

Cost of living index global cities