Ireland

Dublin slips one place in 'Economist' price survey

Dublin has slipped down the Economist magazine league of the most expensive in the world.

Mon Aug 08 2005 - 01:00

Dublin has slipped down the Economistmagazine league of the most expensive in the world.

The Spring 2005 audit by the Economisthas the capital falling one place from 22 to 23 since last year in the cost-of-living survey.

Dublin is cheaper than Sydney or Hong Kong but remains more expensive than Rome, New York and Los Angeles.

Tokyo remains the most expensive city followed by Oslo, Osaka, Reykjavik and Paris. Copenhagen, Zurich, London, Geneva and Helsinki are also among the 10 dearest.

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The bi-annual survey by the Economist Intelligence Unit compared the cost of a basket of goods in over 130 cities worldwide to calculate allowances for business executives.

The Labour Party welcomed the blip in the "rip-off" graph but warned that the country's cost of living is set to soar with climbing fuel costs.

Consumer Affairs spokesperson Kathleen Lynch said: "This is a short respite as it looks like a winter of discontent for householders as we try to run our cars, cook our meals or just stay warm.

"The increases in oil, petrol, diesel and the planned 25 per cent rise in gas are unacceptable." Ms Lynch said lower income households will suffer "fuel poverty" if there is no significant increase in the fuel allowance in the forthcoming Budget.

The World Cost of Living Index from the London-based Economist Intelligence Unit also found:

  • Tehran in Iran is the cheapest city in the world followed by Filipino capital Manila.
  • There have been big jumps for cities in EU accession states such as Prague, Warsaw, Prague Budapest, and Bratislava who have risen 37, 20, 12 and 10 places respectively in the rankings.
  • Hyperinflation in Zimbabwe has seen its capital, Harare, increase 51 notches.
  • The cheapest euro zone city is Lisbon, at 52nd most expensive overall.
  • The cheapest overall destination across Europe is Belgrade (108th) in Serbia Montenegro.
  • Kiev in Ukraine, touted as an EU hopeful, is next cheapest, lying in 93rd place.
  • Bucharest, formerly the cheapest destination in Europe, has moved up 21 places into 91st place as accession talks continue.
  • Latin American cities remain among the cheapest in the world. Despite signs of recovery for economies such as Brazil and Argentina, eight of the 30 cheapest destinations are in Latin America.

PA