bne:Chart – Cost of living in Moscow plummets in 2015

By bne IntelliNews June 18, 2015

Henry Kirby in London -

 

Russians are suffering levels of inflation not seen since the 2008-09 crisis, but for expats now is proving a better time to live in Moscow than for years.

The consultancy ECA International's annual Cost of Living Survey has seen Moscow slide from being the fifth-most expensive city in 2013 to 146th in 2015.

The heavy depreciation of the ruble in the second half of 2014 and early 2015 means that the salaries of expat workers who are paid in foreign currency went a lot further in Moscow than they typically would.

A clear East-West cost divide is also evident in the table below. Not a single Central and Eastern European/Commonwealth of Independent States (CEE/CIS) country entered the top half of the European Cost of Living ranking, with Istanbul and Moscow the highest in the list at 36th and 39th, respectively.

The survey does not, however, factor in housing costs, of which Moscow’s are widely considered to be among some of the highest in the world.

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