Indian Cities Cheapest Globally: Report

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According to a report by Economist Intelligence Unit (EIU), four Indian cities are among the cheapest to live in globally.

Bengaluru (3rd place), Chennai (6th), Mumbai (7th) and New Delhi (10th) have been ranked by EIU among the 10 cheapest cities in the world.

Almaty has been ranked as the cheapest city in the world followed by Lagos. Karachi was placed 4th, Algiers (5th), Kiev (8th) and Bucharest (9th) rank.

The Economist Intelligence Unit (EIU) is a British business within The Economist Group providing forecasting and advisory services through research and analysis, such as monthly country reports, five-year country economic forecasts, country risk service reports, and industry reports.

The EIU’s Worldwide Cost of Living 2017 report — a ranking of the world’s major cities — said Asia is home to some of the world’s most expensive cities and also to many of the world’s cheapest cities.

Singapore retained its title as the world’s most expensive city for the fourth consecutive year, while Hong Kong remained second, closely followed by Zurich in the third place.

Others in the 10 most expensive list include Tokyo at the 4th position, Osaka (5th), Seoul (6th), Geneva (7th), Paris (8th), New York (9th) and Copenhagen at 10th place.

Bengaluru, Chennai, Karachi, Mumbai and New Delhi make up half of the 10 cheapest locations surveyed.

With the dollar weakening slightly against other currencies, New York is the only North American city among the 10 most expensive cities, although Los Angeles remains highly ranked, in 11th place.

The Worldwide Cost of Living is a bi-annual (twice yearly) EIU survey that compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

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