Business & Financial News

Nairobi ranks among the most expensive cities

A report by the Economist Intelligence Unit’s Worldwide Cost of Living survey says the cost of living in Kenya’s capital has risen 13 places compared to the previous year’s ranking, placing it at position 69 globally.

This is in contrast to Lagos at position 127, putting it among the 10 cheapest cities in the world. The findings are based on comparison of more than 50,000 individual prices of 160 products and services. The survey tracks prices of food, drinks, clothing, household supplies and personal care items alongside private schools, domestic help and recreational costs.

he study, dubbed Cost of living in cities around the world: Prices and Earnings 2018, also ranked Nairobi at position 68 and the most expensive city to reside in Africa.

The findings, based on prices, earnings, purchasing power and working time, ranked Cairo and Lagos as the least expensive cities globally. A June 2015 survey by Mercer’s 21st Cost of Living also ranked Nairobi 104 out of 207, making it one of the most expensive cities.

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