Instant International
Author: Cheng Yihua
2020-11-18 15:55
Last update date: 2020-11-18 15:55
The Economist Intelligence Unit published the "Global Cost of Living 2020" report on November 18, investigating how the new crown pneumonia (COVID-19) epidemic affects the cost of living in 133 cities around the world, and listed the results. The cost of living in Hong Kong remains high, ranking first again. Zurich and Paris are also tied for the top spot.
According to the report, the cost of living index of Hong Kong, Zurich and Paris are all 103, tied for the first place. The base 100 is the cost of living index of New York City.
The top spots in the 2019 report are Hong Kong, Singapore and Osaka.
This year, Singapore and Osaka dropped to 4th and 5th place respectively.
Reuters reported that this report counted the prices of 138 goods and services in more than 130 cities around the world in September 2020, covering 10 categories, including leisure, home furnishing, clothing, transportation, tobacco, etc. The results found that in the past year Within this year, the prices of these goods and services only increased by 0.3 percentage points on average. Among them, the prices of tobacco and leisure products rose the most, while the prices of clothing fell the most.
According to the report, the decline in Singapore’s ranking is related to the departure of local foreign workers due to the epidemic. The overall population of Singapore has contracted for the first time since 2003. Demand has fallen and has fallen into multiple months of deflation. A similar trend has also appeared in Osaka. Consumer prices have stagnated and the Japanese government subsidized public transportation. Equal cost.
The report pointed out that the cost of living in cities in the Americas, Africa and Eastern Europe has fallen since 2019, while cities in Western Europe have become more expensive, partly reflecting the impact of the rise of European currencies relative to the US dollar.
The largest increase in the cost of living was in Tehran, Iran, which rose 27 places to 79th, which is believed to be related to the supply of goods affected by Iran’s sanctions by the United States.
The cities with the largest decline in the cost of living are Brazil's Rio de Janeiro and Sao Paulo, which are due to weak local currencies and rising poverty.
01News
Think Tank Hong Kong Economy Singapore Osaka Paris Japan Japan