Manchester now more expensive to live in than Barcelona, Milan and Stockholm
Brought to you by Manchester Evening News
Living in the city is now more expensive than in a raft of other European destinations, economists have revealed.
Daily living expenses in Manchester outstrip Barcelona, Berlin, Brussels, Hamburg, Milan, Munich, Reykjavik, Rome and Stockholm.
A survey by The Economist Intelligence Unit puts the city 26th in a list of 133 cities ranked by the price of 160 goods - ranging from utility bills to groceries.
It is one of the world’s fastest risers, according to the index.
Manchester has moved up 13 places since last year’s Worldwide Cost of Living Report - and has now been named Europe’s 11th most expensive city.
It also ranks higher than major cities worldwide, including San Francisco, Washington DC and Wellington.
Despite Manchester’s decade-high ranking, the city is still 15pc cheaper than London, according to the survey.
The capital is now sixth in the global list - and is the fourth most expensive European city behind Zurich, Geneva and Paris.
Boffins say prices in Manchester haven’t changed drastically in the past few years, but living costs elsewhere have plummeted - meaning the city has become relatively more expensive.
An Economist spokesman said: “Manchester’s rise up the rankings came as a result of a stronger pound compared to other European currencies.
“Price levels in Manchester won’t have changed that much but compared to its global peers it has become more expensive.”
The worldwide list was topped by Singapore. Zurich in Switzerland came second and Hong Kong third.
Currency fluctuations were a major factor in the survey, according to economists.
The rankings were compiled by looking at the price of a ‘basket’ goods, including food and drink, clothing, rent, transport, bills and leisure costs.
One of the report’s editors, Jon Copestake, said: “In nearly 17 years of working on this survey I can’t recall a year as volatile as 2015. Falling commodity prices have created deflationary pressures in some countries, but in others currency weakness caused by these falls has led to spiralling inflation.”