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Inequality?

It's an oil country. I'd not be surprised to find it's full of million-dollar apartments driving the average up. Maybe the low wage workers live beyond the city boundary, or in favelas that are excluded from the average.

http://www.architonic.com/ntsht/over-site-how-caracas-s-new-...

I would not believe any of the numbers in that article.

Just look at the numbers for Paris vs Munich. Paris is higher in everything but is ranked one behind Munich.

The study was probably done at the governments official exchange rate which is far off from the black market rate. Which would make it seem more expensive.