Karachi among 10 cheapest cities in the world

The world’s most cheapest cities have been revealed in the Economist Intelligence Unit’s report. Pakistan’s commercial hub Karachi is included in the ten cheapest cities in the world when it comes to expenditures related to foods, transportation, health and other basic necessities.

Karachi ranked 44 compared with the base city. According to the survey findings, Karachi’s rank improved five notches from the last survey.

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The Worldwide Cost of Living 2016 survey, comparing the price of a weighted basket of goods across 133 cities worldwide, put the Pakistan’s industrial hub at the 127 rank this year.

“Commodity prices, which are also falling back, could act as further deflators in some markets,” the report said.

“While it is clear that oil markets remain oversupplied, there are reasons to believe that there could be a slight rebound in prices in 2016.”

The EIU, which conducts this survey twice yearly, compares more than 400 individual prices across 160 products and services, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.  All cities are compared with a base city of New York, which has an index set at 100.

 

 

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