Egypt is the cheapest place in the world, except for Egyptians

CAIRO – 26 February 2017: According to international relocation company

MoveHub

, Egypt is now the cheapest country in the world in terms of living costs.

An infographic published by MoveHub on Feb. 20 shows costs of living around the world in 2017, using data about the prices of groceries, transportation, restaurants, utilities and rent, provided by Numbeo, a user-contributed consumer price index.

According to the MoveHub world ranking, Egypt moved up six places in two years.

However, Egypt is barely cheap if you are already living there, especially with a 29.6 percent inflation rate in 2017.

According to the monthly report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) in February, this hike in the inflation rate resorts to an increase of 38.6 percent in prices of food and beverage compared to 2016,

Daily News Egypt reported

.

The CAPMAS report had further pointed out a 30.2 percent increase in prices of meat and poultry and a 30.5 percent rise in the prices of milk, cheese and eggs. Meanwhile, prices of oil and fat increased by 63.1 percent.

According to MoveHub’s ranking, Bermuda is the most expensive country to live in, followed by Switzerland, Hong Kong and Iceland. The U.S. is the twentieth most expensive country.

The cheapest countries in terms of living costs include India, Syria, Tunisia, Mexico and Uganda.

Courtesy of
MoveHub: Living Costs Around the World