World’s most expensive cities 2011
Where would you expect to pay $45 for a quick lunch? Or north of $8 to buy a dozen eggs? The answers may surprise you (and no US cities cracked the top 10).
These days many Americans are irritated that so many things cost more than they used to. In fact, consumer prices increased 2.1% year over year in the first quarter. In April, they were up 3.2%, according to the U.S. Bureau of Labor Statistics. Yet, on a global basis, the U.S. has become a bargain, compared with some other countries, as the U.S. dollar weakens and costs balloon in other places, according to results from a new report by ECA International, a global human resources company. The semiannual survey, which compares the price of food and basic goods and services -- but not housing, utilities, or school fees -- for expatriates in more than 400 cities around the world, ranked Australian cities higher for cost of living this year, mainly as a result of currency changes. The Australian dollar has appreciated about 30% against the U.S. dollar since June 2010, and the Swiss franc has jumped about 37%. In the United States, Manhattan, which ranked No. 28 on last year's global list, fell to No. 44. Honolulu dropped to No. 62 from No. 40.