Querétaro, the city that became the most expensive

Querétaro was the city in Latin America where life became more expensive during this 2023, above cities like Moscow, St. Petersburg, and Prague, according to the study of Worldwide Cost of Living 2023 by The Economist.

In the analysis of 173 cities in the world, the capital of the state stood out as the one that moved the most in the ranking, occupying the number 51 spot, due to the increase in prices of products and services.

In this top 10, it was followed by Aguascalientes, San José in Puerto Rico, Berlin, Luxembourg, Manchester, Prague, Lyon, Rotterdam in the Netherlands, and Stuttgart in Germany.

“The Mexican cities of Querétaro and Aguascalientes were the ones that rose the most due to the strengthening of the peso against the US dollar, and the increase in interest rates and strong investment,” the study says.

Meanwhile, in the global top, in the first place of the most expensive cities are Singapore and Zurich in Switzerland, followed by Geneva in Switzerland, New York, Hong Kong, Los Angeles, Paris, Copenhagen, Tel Aviv and San Francisco.

It should be noted that Mexico City continues to be the most expensive city to live in Latin America, and appears in this study.

The study analyzed the costs of 400 prices of products and services of the 173 main cities in the world this year such as food, household items, personal care, alcohol, clothing, domestic service, recreation, transportation, and public services. It should be noted that this study has been carried out for the last 30 years.

The survey this year was carried out between August 14 and September 11 of this year, in which they found that on average prices increased by 7.4% year-on-year in local currency terms for the more than 200 common goods and services, which is slightly below the 8.1% increase that was recorded in 2022, although it is still higher than the trend from 2017 to 2021.

Source: Kiosco OEM