Source: Shutterstock/Giancarlo Liguori

IRELAND’S CAPITAL IS now a more expensive place to live than some of the most notoriously pricey places on the planet.

A new survey shows that Dublin has jumped 48 places to enter the top-100 list of the most expensive places to live in the world at number 72.

That places the city above other notoriously expensive places to live like Abu Dhabi and Silicon Valley, and even central London.

The cost of living survey, commissioned by ECA International, investigates the varying level of household expense in cities around the globe.

It does so by comparing a basket of like-for-like consumer goods and services in 475 worldwide locations. Rental accommodation levels are not factored into the survey.

ECA, which has been running the survey for the past 45 years, states that a strong euro is the main reason for the rise on the list of so many European cities.

“Thanks to the strength of the euro, Dublin is one of 18 European cities to enter the top 100 most expensive cities in the world this year,” said Steven Kilfedder, production manager with ECA.

Source: ECA International

This is the first time Dublin has been in the top 100 since 2014, making it more expensive for expats and visitors travelling to Ireland.

Regarding the goods and services themselves, the humble stick of butter is the standout price-mover for 2018.

The cost of the dairy product has jumped up to 28% in Europe due to a slowdown in milk production, with the greatest increases seen in Austria and Poland.

Switzerland has four out of the top five most expensive cities to live in on earth – Zurich, Geneva, Basel, and Bern.

#Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to you Support us now

The European nation misses out on top spot though – that dubious honour goes to Caracas in Venezuela, due to the hyperinflation (1,800% in the last 18 months alone) seen in the South American country.

London, meanwhile, often seen as one of the world’s most expensive cities, placed 109th in this year’s survey.

Belfast is the cheapest city to live in the UK, meanwhile.

The cost of living in US cities has meanwhile dropped significantly due to a concurrent drop in the value of the dollar.