According to the report of the British publication “The Economist”, Karachi is on the sixth place in the list of the cheapest cities in the world.
Economist Intelligence Unit (EIU), conducted a survey this year in 174 cities around the world to evaluate inflation and its effects on the people.
According to the survey, prices of basic necessities and food in local currency terms in the world’s major cities increased by an average of 8.1 percent over the past year, the highest level in the last 20 years.
According to the report of EIU, inflation increased the most in the Turkish city of Istanbul, Argentina’s city (Buenos Aires) and the capital of Iran (Tehran). In the city of Caracas, Venezuela, the rate of inflation was seen at 132% during one year.
According to the survey report, the cheapest city in the world is Damascus, the capital of Syria. Karachi, the city of lights, is known as the poor city in Pakistan, and it has the same reputation in the world.
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