Karachi, cheapest city in the world, again
Global report pegs Karachi as cheapest city, despite high inflation.
Karachi has been ranked the cheapest city in the world, for the second year running.
According to a report published in The Wall Street Journal, Pakistan’s biggest city landed up at the bottom of the index for the Economist Intelligence Unit’s world-wide cost-of-living survey.
The over-populated port city came in 131st out of 131 cities, maintaining last year's position.
Other cities that made it to the bottom ten include Mumbai, New Delhi, Kathmandu and Dhaka.
Jon Copestake, editor of the survey, stated in the report that these cheap cities "have been cheap for a long time." "Even though local inflation is high, it's coming from a very low base, so it's only a slight rise in the cost-of-living index," he said.
Published twice a year, the survey tracks the prices of goods and services such as food, transportation, utilities, private schools and domestic help to calculate scores for each city, using New York as its base with a score of 100.
According to this year’s survey, Zurich is the world's most expensive city to live in.
According to a report published in The Wall Street Journal, Pakistan’s biggest city landed up at the bottom of the index for the Economist Intelligence Unit’s world-wide cost-of-living survey.
The over-populated port city came in 131st out of 131 cities, maintaining last year's position.
Other cities that made it to the bottom ten include Mumbai, New Delhi, Kathmandu and Dhaka.
Jon Copestake, editor of the survey, stated in the report that these cheap cities "have been cheap for a long time." "Even though local inflation is high, it's coming from a very low base, so it's only a slight rise in the cost-of-living index," he said.
Published twice a year, the survey tracks the prices of goods and services such as food, transportation, utilities, private schools and domestic help to calculate scores for each city, using New York as its base with a score of 100.
According to this year’s survey, Zurich is the world's most expensive city to live in.