![]() The basket of goods and services accounts for almost 80% of the EU’s harmonized index of consumer prices (HCIP) this year. To iron out any inconsistencies, individual items were weighted accordingly. While consumer habits and preferences vary greatly from country to country, and from continent to continent, if products were not available in some cities, or deviated too far from our parameters, local representative substitutes were sometimes used. To analyse prices, UBS created a standardised basket of 128 goods and services, which replicates the spending and consumption of a typical three-person European family. In compiling the data for analysis, UBS gathered more than 75,000 data points on prices and earnings from 77 cities worldwide, between January and April of this year. Luxembourg, though, is 3rd in Earning Levels for Average Earnings at 111.3 (Gross), behind Geneva (131.5) and Zurich (129.8), and above Los angeles (101.7), Copenhagen (101.3) and Oslo (100.6), with Cario 77th on 4.7.įor Price Levels (including rent), Luxembourg is 11th most expensive at 84.2, in the list topped by Zurich (104.3), Geneva (102.9), New York (100.0), Oslo (96.9) and Copenhagen (94.4), with Cairo the cheapest at 29.8. In Purchasing Power, Luxembourg (117.3) is 5th behind Los Angeles (123.9), Zurich (122.5), Miami (121.7) and Geneva (118.0) in Net Annual Income, with Lagos 77th (7.9). In Swiss bank UBS's Global Cities Ranking 2018, employees in Luxembourg city hneed to work 13.1 minutes to be able to afford a Big Mac: Kong Kong tops that Working Time chart as the shortest time (11.8 minutes), followed by Taipei and Tokyo, with Nairobi the last out of 77 cities (133.8 minutes).
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