In fact, UK locations included in the study have risen in the cost of living ranking by an average of six places, with Edinburgh now 83rd, Manchester 84th, Birmingham entering the top 100 (99th), Cardiff 101st and Belfast 106th.ĮCA International analyses costs of consumer goods and services in more than 490 locations worldwide, and rental costs in over 420 - of which 207 cities in 120 countries are ranked in their latest report. London and New York have seen the most significant price increases within the top ten most expensive cities, primarily due to soaring accommodation rental costs – up by an alarming 20% in London and 12% in New York. While the cost-of-living crisis has dominated news headlines across the UK, ECA’s report reveals how costs in the UK compare to countries around the world, affected by widespread inflation rises. Hong Kong retains its spot at number one, while New York moves further up the ranking, overtaking Geneva (3rd) to secure second place. London jumps up one place in the ranking of the most expensive cities in the world, overtaking Tokyo to become 4th, ECA International’s (ECA) latest cost of living report reveals.
Petrol prices climbed on average 37% y-o-y across all cities, compared to a 23% rise in London.Sunflower and palm oil shortages drive up cost of cooking oils by a quarter on average globally*, and by more than double in Beirut, Tehran and Sarajevo -compared to a 4% annual increase in the UK.Food prices soar across the globe due in part to shortages created by the war in Ukraine, but worst is unfortunately yet to come for UK.A 20% rent increase cements London’s position within top five most expensive cities in the world, while a 12% increase in rental costs sees New York overtake Geneva to secure second place.
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