<p class="content-excerpt">New York tops the list for the first time</p> <div class="components"> <p>Israel's Tel Aviv is ranked third most expensive city in the world after New York and Singapore, according to the EIU’s Worldwide Cost of Living (WCOL) index issued on Thursday.&nbsp;</p> <p>The results are based on the Economist Intelligence Unit (EIU) analyzing the prices in 172 cities. According to the survey, the average cost of living rose by 8.1 percent, reaching the highest rate in 20 years since the beginning of digital collection of data.&nbsp;</p> <div class="taboola-wrapper"> <div class=" trc_related_container trc_spotlight_widget trc_elastic trc_elastic_ab_mid-article-thumbnails_abp-mode "></div> </div> <p>Last year&nbsp;<a class="link" title="https://www.i24news.tv/en/news/israel/economy/1645082162-thousands-protest-in-tel-aviv-against-israel-s-high-cost-of-living" href="https://www.i24news.tv/en/news/israel/economy/1645082162-thousands-protest-in-tel-aviv-against-israel-s-high-cost-of-living" _mce_href="https://www.i24news.tv/en/news/israel/economy/1645082162-thousands-protest-in-tel-aviv-against-israel-s-high-cost-of-living">Tel Aviv topped the list</a>, but this year America's most populous city, New York, took the pedestal for the first time tying with city-state Singapore. The Syrian capital of Damascus and Libya's Tripoli remain the cheapest cities, according to the survey.</p> </div>