What is the most expensive city in the world? Luanda, the capital of Angola, was ranked the world’s most expensive city, according to Mercer Consulting’s 2013 Cost of Living survey for expats. This may come as a surprise, as half of Luanda’s population lives in poor conditions. However, the city is currently undergoing a major reconstruction for wealthy and not-so-wealthy residents.
In 2013, Moscow moved up two spots to become the second-most expensive city. Tokyo, last year’s most-expensive city for expats, ranked third this year.
Four European cities were among the top 10 most expensive, and three of the four are Swiss cities. This may signal the healthy return of the financial sector.
The growth of China has yet to peak. The most expensive city in mainland China is Shanghai, ranked the fourteenth most expensive city.
In the US, the most expensive city was New York. New York was used as the benchmark city in calculating the cost of living comparisons. Mercer’s Cost of Living survey measured in 200+ cities the comparative cost of 200+ items, including housing, household goods, food, clothing, travel and entertainment.
Top 10 Most Expensive Cities
1. Luanda, Angola
2. Moscow, Russia
3. Tokyo, Japan
4. N’Djamena, Chad
5. Singapore, Singapore
6. Hong Kong, Hong Kong
7. Geneva, Switzerland
8. Zurich, Switzerland
9. Bern, Switzerland
10. Sydney, Australia
Learn more about worldwide cost of living: www.humuch.com
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Inflation is a rise in the level of prices.
Inflation is generally regarded as not a good thing for an economy. When prices increase, consumers pay more for goods and services. It also becomes more difficult to predict costs in the future. Companies are not sure what prices to set, employees are not sure what wages to request, and banks are not sure what interest rates to put on loans.
Almost every country in the world employs an economic bureau to monitor changes in the level of prices. In the United States the Bureau of Labor Statistics creates a monthly consumer price index (CPI). The CPI is the percentage change in consumer goods and services purchased by urban households. Most recently, the U.S. inflation rate has been about 1.5 to 2.0%.
In Europe, it is common practice to look at the Harmonised Index of Consumer Prices (HICP). It is a collection of monthly prices in the European Union. In Asia, much of the attention is focused on China’s National Bureau of Statistics (CCPI). In Latin America and other countries, individual central banks or government agencies issue price level reports in either quarterly or monthly releases.
One limitation of inflation indexes is the lack of transparency, often limited to general categories of food, clothing, and shelter. In the end, it is the price increases in your own purchased goods and services that really matter. To make your financial decisions, you need your own real rate of inflation. On HuMuch (http://humuch.com), you can create a personalized basket of goods and services and create personalized inflation rates and cost of living comparisons. It’s free. We invite you to check out HuMuch, the place to find, share and compare prices around the world.
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One of my favorite lunch menu items has increased. According to Bloomberg News, the average price of Sushi (California Rolls) has jumped 10%. Major increases have been seen in New York, San Francisco, and Los Angeles. In some parts of the country, Sushi did decrease. New Orleans apparently has had its fill.
During the Nuclear Reactor crisis in Fukushima, Japan, I thought sushi consumption would decrease; and hence prices. Fear of contaminated food apparently does not deter the U.S. consumer. Plus, there really isn’t that much raw fish in a California Roll
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Posted in Cost of Living, Shopping in Asia / Pacific, Shopping in Europe, Shopping in North America, tagged business, Champagne, Cost of living, CPI, Dom Perignon, economy, Food prices, Prices, travel on May 8, 2012 |
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Today, HuMuch.com releases the Dom Perignon Index. Dom Perignon is one of the most well-known brands of champagne. The Dom Perignon Index is a “lighthearted” guide to compare the market for luxury goods around the world. It does so by looking at the prices of one bottle of Dom Perignon (750 ml) across several different countries. In the price index, the latest vintage year is used.
The price of Dom Perignon in the United States is about $158. The most expensive Dom Perignon are in the Eastern Hemisphere (China at USD $255 and Japan at USD $195). Australia is also relatively more expensive at USD $243. See the index
In France, where Dom Perignon Champagne is produced, the price is about USD $164. The least expensive country reported in the index is Switzerland at USD $139. The prices are retail and include sales tax, GST, or VAT.
HuMuch.com is the place to discover global prices. It was founded a group of international travelers. Each time they explored a new place, they noticed that an item is often sold in different places at drastically different prices. The prices in the Dom Perignon Index were provided by consumers around the world. To learn more, HuMuch benefits.
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Posted in Cost of Living, Shopping in Asia / Pacific, Shopping in Europe, Shopping in Latin America, Shopping in ME / Africa, Shopping in North America, tagged basket of goods, business, Cost of living, CPI, Global prices, HuMuch, Relocation on April 15, 2012 |
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Today, HuMuch.com announces the launch of “Build Your Own Cost of Living Index”. Current cost of living indexes are generalized. For instance, the U.S, is 22% more expensive than India. However, you need more information to make an informed decision. “Cost of living is a major consideration if you are planning a move,” stated Phil Sarmiento, HuMuch’s VP of Operations. “HuMuch can help by providing a cost of living index that can be personalized to your own basket of goods.”On the website, individuals can select two locations, create a basket of goods, and compare cost of living. Goods range from food and clothing to electronics and furniture. For example, the global average price of an Apple iPad 2 (16GB, wifi) is $655 (USD). The highest cost is in Brazil $966 (USD) / 1,649 (BRL). That’s a 47% cost of living index. The lowest cost is in Malaysia $499 (USD) / 1,512 (MYR). That’s a (23%) cost of living index.In addition, individuals can create a basket of multiple goods. “We feel that this will improve transparency in cost of living comparisons, and greatly benefit job seekers, expats, and researchers.” added Phil Sarmiento.
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