Jul 14, 2018

These Are the Most Expensive Cities in the World

Prague Morning

Zurich is the most expensive in the world for food, according to UBS Group AG’s Prices and Earnings report for 2018, a survey ranking global city prices, earning levels, purchasing power and working time to buy common goods.

Prague has been placed 50th in the annual index.

Switzerland’s Zurich is followed by Geneva, Oslo, Copenhagen and New York, while Kiev, Lagos and Cairo are the cheapest cities.

The report showed that the average worker in Zurich needed to work 38.2 hours to earn enough to purchase an Apple iPhone. An average worker in Johannesburg needed to work 291.9 hours to earn enough to buy the same smartphone.

First launched in 1971 and now in its 17th edition, the report compares 128 prices of various goods and services of a three-person European family. The final calculations also take into account the average earnings of 15 professions representing the average working population.

All calculations are shown relative to New York, which is the reference city.

Author: red