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AP National Business

Tel Aviv is priciest city, outranking Paris in new report

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Published 4:05 AM

By AMI BENTOV
Associated Press

TEL AVIV, Israel (AP) — Residents of Israel’s seaside metropolis Tel Aviv have for years complained of how expensive it is, with living costs taking a chunk out of their paychecks. Now a report released Wednesday affirms their dissatisfaction with the prices. Tel Aviv has emerged as the most expensive city to live in, according to the Economist Intelligence Unit, a research group linked to the Economist magazine. The city, which was previously ranked 5th most expensive, has now surpassed other pricy places like Paris and Singapore. Economists attribute the jump to a strong appreciation of the shekel against the dollar. The Economist Intelligence Unit also pointed to a rise in grocery and transport costs.

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