We expected it, Paris is once again part of the top 10 most expensive cities in the world, dropping from the second to the fifth position since last year. We also learn that Paris is one of the most expensive city where to buy bread, $7.42/kilo, just behind Seoul and New York.
What will surely surprise Australians is that Sydney and Melbourne dropped from positions 5th and 6th to 20th and 21st.
Generally, the cost of living went down in 2015 all over the world because of falling commodity prices, currency devaluations and geopolitical uncertainty.
The most expensive cities in 2015 were Singapore, (for the 3rd year in a row), Zurich. Hong Kong, Geneva, Paris, London, New York Copenhagen, Seoul and Los Angeles.
The least expensive cities were Lusaka, Bangalore and Mumbai.
The Economist evaluates the prices of 160 goods and services, including rent, food, transports, etc. The value of a currency also has a major impact in the ranking. Australian cities were in the top 10 when the Australian dollar was strong. The strength of the American helped a few American cities to go up in the ranking this year.
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