The study considers 200 different factors, such as transportation, food, clothing, and entertainment.
Lima is one of the most economical cities for a foreigner to live in South America, according to the annual cost of living ranking drawn up by Mercer.
“This year, the Peruvian capital fell 28 positions to 132”, said El Comercio, who also informed that this study considered cities at the business level, measuring the cost in more than 200 items, including the costs of housing, transportation, food, clothing, household goods and entertainment.
At the regional level, the positions of other cities such as Sao Paulo (58), Santiago de Chile (69) Montevideo (75), Buenos Aires (76) and Rio de Janeiro (99), place them as more expensive to live. Meanwhile, Tegucigalpa, capital of Honduras, is the cheapest city to live on (201) in the continent.
Caracas, capital of Venezuela, was excluded from the ranking because of its complex exchange situation, said El Comercio.
“Lima has followed a pattern of behavior similar to that of the region: most cities in Latin America have shown a significant decline in the cost of living. This is mainly due to a combination of factors, such as the behavior of inflation with respect to 2017”, said Gabriel Regalado, CEO of Mercer Peru, according to El Comercio.