The latest edition of Worldwide Cost of Living 2016 published recently by Economist Intelligence Unit (EIU) has significantly downgraded Russia’s Moscow and St. Petersburg. The capital has been put from 50th to 113th position of 133 cities studied, while St. Petersburg appeared to be much cheaper, having fallen from 67 to 118.
The full version of the EIU’s report can be downloaded here: http://www.eiu.com/public/topical_report.aspx?campaignid=WCOL2016
The main factor to contribute to the fall was the Russian ruble’s drop in value against the dollar which served the currency for the study’s comparisons. Cost of living in both Russian biggest cities reduced by 40 percent compared with 2015. As we wrote in the news here, in early 2014, $1 cost 32 rubles, 1 euro was being traded for 45, now the figures are 70 and 78, consecutively.
Information about prices for food, accommodation, transport, entertainments ans souvenirs in St. Petersburg you will find in our special post here.