TIG Post

Tag: Cities

  • The 10 most expensive cities in the world

    The 10 most expensive cities in the world


    In news that won’t come as a surprise to anyone who’s been feeling the pinch, the global cost of living crisis is far from over, particularly impacting big-city dwellers.

    According to the annual Worldwide Cost of Living Index published by the Economist Intelligence Unit (EIU), the average cost of living rose by 7.4% this year, with grocery prices experiencing the fastest increase.

    Although this is slightly lower than the 8.1% jump recorded in the same survey in 2022, the numbers remain significantly higher than “historic trends.”

    On a positive note, utility prices, the fastest-rising category in the 2022 survey, showed the least amount of inflation this time around.

    The slowdown in price increases is attributed to the waning of supply chain issues since China lifted its Covid-19 restrictions in late 2022. However, grocery prices continue to rise as retailers pass on higher costs to consumers.

    “We expect inflation to continue to decelerate in 2024, as the lagged impact of interest-rate rises starts affecting economic activity, and in turn, consumer demand,” stated Upasana Dutt, Head of Worldwide Cost of Living at EIU. Dutt also warned of the upside risks of armed conflict and extreme weather, stating that further escalations of the Israel-Hamas war could drive up energy prices, while a greater-than-expected impact from El Niño could push up food prices even further.

    The increase in living costs has made many cities more expensive to live in, with Singapore and Zurich (Switzerland) topping the list as the most expensive cities in the world. Singapore tied with New York for first place last year but slipped to third this year. Zurich, which jumped from sixth place on last year’s list, was attributed to the strength of the Swiss Franc along with high prices of groceries, household goods, and recreation.

    Hong Kong, Los Angeles, Paris, Tel Aviv, Geneva, and San Francisco also featured in the top 10 most expensive cities. Notably, Russian cities Moscow and St. Petersburg experienced sharp drops in the ranking, and Damascus, Syria, remained the world’s cheapest city.

    The survey, which excluded Venezuela’s Caracas due to a significant rise in prices, covered 173 major cities, comparing more than 400 individual prices across 200 products and services.

  • US death toll rise as huge storms destroy several states

    US death toll rise as huge storms destroy several states

    A string of tornadoes tore throughout the South and Midwest cities of the United States, killing at least 26 people

    Storms devastated multiple states, destroying homes and leaving people without electricity.

    The Washington Post reported that there were more than 60 tornado reports.

    Weather-related fatalities have been reported in Arkansas, Tennessee, Illinois, Indiana, Alabama, and Mississippi, among other states.

    One storm shredded through the Arkansas town of Wynne – a community some 100 miles (170km) east of the state capital, Little Rock.

    Damaged Domino's branch following tornado in Wynne, Arksansas
    Image caption,Wynne, Arkansas saw several deaths due to Friday’s tornado

    Ashley Macmillan said she, her husband and their children huddled with their dogs in a small bathroom as a tornado passed, “praying and saying goodbye to each other, because we thought we were dead”.

    A falling tree seriously damaged their home, but they were unhurt.

    She told the AP news agency: “We could feel the house shaking, we could hear loud noises, dishes rattling. And then it just got calm.”

    Lisa Worden, a teacher at Wynne High School, said a decision to send pupils home early was critical.

    “We got out at 1:30, which was such a God blessing from our superintendent, because otherwise kids would have been on busses and teachers would have still been here. And so that would have been even more devastating,” she told Reuters news agency.

    Governor Sarah Huckabee Sanders declared a state of emergency in the state of Arkansas on Friday, with the national guard activated to help with recovery efforts.

    Wynne damaged by tornado
    Image caption,Wynne’s high school suffered heavy damage from the tornado

    She said she had spoken to President Joe Biden about the situation, who promised federal aid.

    Friday’s storms also led to the collapse of a theatre roof at a packed heavy metal gig in Belvidere, Illinois state, leading to one death and 28 injuries.

    As storms continue to work their way east, hundreds of thousands of people are without power across several states.

    Virginia, Ohio and Pennsylvania are the worst affected, according to the US PowerOutage website.

    In a bulletin, the Storm Prediction Center warned some of the projected tornadoes could track across the ground for long distances.

    nvestigators look over the Apollo Theater following a tornado in Belvidere, Illinois
    Image caption,Investigators look over the Apollo Theater following a tornado in Belvidere, Illinois

    The deadly tornadoes come a week after a rare, long-track twister killed 26 people in Mississippi.

    The Mississippi tornado last week travelled 59 miles (94km) and lasted about an hour and 10 minutes – an unusually long period of time for a storm to sustain itself. It damaged about 2,000 homes, officials said.

    President Biden visited the state on Friday to pay his condolences.

    Source: BBC