Karachi Ranked sixth cheapest city worldwide

Karachi has been ranked as the sixth most affordable city in the world in ‘The Worldwide Cost of Living (WCOL) index 2022.

The world's largest cities had an increase in inflation last year of 8.1% on average, the highest level in the previous 20 years, according to the Economist Intelligence Unit (EIU).

The WCOL has ranked Damascus (Syria) as the most affordable city in the world followed by Tripoli (Libya), Tehran (Iran), Tunis (Tunisia), Tashkent (Uzbekistan), and Karachi (Pakistan).

According to the report, that distribution network issues have indeed been brought on by the conflict in Ukraine, Western sanctions against Russia, and China's zero-covid policies, while historic interest rate increases in a bunch of countries have significantly raised the cost of living worldwide.

The report has placed Singapore, bagging position for the eighth time in ten years, as the most expensive in the world coupled with New York (United States) and followed by Tel Aviv (Israel), Hong Kong, Los Angeles, Zurich (Switzerland) in the list of top ten countries.