Every year, The Economist publishes a list of the most expensive cities in the world, and the 2023 rankings are in. To determine which metropolises will snag a spot, the publication looks at the cost of living index, which compares prices of hundreds of products and services in 172 cities around the globe. In addition to looking at how different locales ranked against each other, The Economist’s data found that inflation remains extremely high across the board, with the cost of goods and services rising on average by 7.4%.