Caracas is the fourth most expensive city in Latin America

[naaman fletcher]

World Trends Caracas is the fourth most expensive city in Latin America, surpassed only by Sao Paulo, Rio de Janeiro and Brasilia (Brazil), according to Mercer's 2011 Cost of Living Survey.

The Venezuelan capital city jumped 49 places in the ranking of most expensive cities in the world, and is ranked 51 in the 2011 ranking. The deterioration was caused by inflationary pressure.

"In the case of Venezuela, the official exchange rate has remained unchanged at VEB 4.30 per US dollar. This is the reason why overall inflation exceeds 25 percent and inflation in foodstuffs is over 34.4 percent. As a result, Caracas has jumped almost 50 places compared to last year," said Gabriel Regalado, human capital consulting manager in Mercer.

The most expensive cities in Latin America, after Caracas, are: Havana (Cuba), Bogotá (Colombia), Santiago (Chile), Montevideo (Uruguay) and Lima (Peru).




http://english.eluniversal.com/2011/07/14/caracas-is-the-fourth-most-expensive-city-in-latin-america.shtml


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