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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Drum rolls in the great disappearing act of Russia's banks

Jason Corcoran in Moscow - Russian banks are disappearing at the fastest rate ever as the country's deepening recession makes it easier for the central bank to expose money laundering, dodgy lending ... more

Kremlin: No evidence in Olympic doping allegations against Russia

bne IntelliNews - The Kremlin supported by national sports authorities has brushed aside "groundless" allegations of a mass doping scam involving Russian athletes after the World Anti-Doping Agency ... more

PROFILE: Day of reckoning comes for eccentric owner of Russian bank Uralsib

Jason Corcoran in Moscow - Revelations and mysticism may have been the stock-in-trade of Nikolai Tsvetkov’s management style, but ultimately they didn’t help him to hold on to his ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss