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London was declared the most expensive European capital

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A new top of the most expensive European capitals based on the cost of daily expenses was revealed to the public by Eurostat. The top’s statistics are made according to each coefficient received by every capital and comes with a lot of surprises.

The results of the top are based on price surveys covering more than 2400 consumer goods and services. The study was conducted across 38 European countries, being part of the Eurostat-OECD Purchasing Power Parities (PPP) program. The group of participating countries includes the 28 EU Member States, three EFTA countries (Iceland, Norway and Switzerland), five candidate countries (Montenegro, the former Yugoslav Republic of Macedonia, Albania, Serbia and Turkey) as well as one potential candidate (Bosnia and Herzegovina) and Kosovo. Eurostat revealed the results of their research this week, putting the U.K. capital in the lead for the dataset from 2015. Rents in London have remained high as purchasing power was pushed down, according to a report in the Financial Times in 2015, contributing to the high cost of living in the metropolitan hub.

Londoners are Europeans who pay the most every month to be able to ensure their living. Britain's capital has been set a coefficient of 166.9. The next most expensive cities after London were Copenhagen, in Denmark, and Stockholm, Sweden. Helsinki and Dublin rounded out the top five, while the least inexpensive city in Europe was Sofia, Bulgaria.

Among the issues that were considered in determining this ratio include the cost of public transport, utility costs and food costs. Regarding the transport, London is the second most expensive capital in the world in terms of the price residents pay on a monthly basis. Also, the British capital is ranked third in the world in terms of the cost of utilities.

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