BUSINESS

Why Nairobi was ranked among most expensive cities worldwide

A Mercer Cost of Living Report placed Nairobi into the list of 100 most expensive cities in the world.

Nairobi was ranked 95th which means it rose by 26 positions from the previous ranking of 123 out of the 209 cities surveyed.

Multinational organizations carefully assess the cost of expatriate packages for their international assignees.

The Mercer’s cost of living and rental accommodation index is measured using the price of specific 200 goods and services.

According to Mercer the items used to determine the position of the listed cities including Nairobi are food, tobacco, housing, alcohol, clothing, domestic supplies, home services, recreation, transport, personal care, home services, entertainment, footwear, and utilities.

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This years’ report reviewed specific items such as price of fast food meal for one person, men’s blue jeans, a litre of petrol, single cinema ticket for the latest international release, and a cup of expresso coffee at a popular cafΓ©.

According to the report, Nairobi exhibited a higher rate of increase in price of goods and services that any other listed city.

The report indicated Nairobi’s inflation rate averaged at 4.69 percent last year, down from 7.99 percent in 2017

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