Economist Intelligence Unit Releases List of the World's Most Expensive Cities
Published on Feb 5, 2013
(CNN) -- Despite Japanese deflation, a weaker yen and rising prices throughout the world, Tokyo has resumed its position as the world's most expensive city, according to the latest Worldwide Cost of Living Survey from the Economist Intelligence Unit.
Tokyo took over from the Swiss city of Zurich, which dropped to seventh. Australian cities were among the biggest movers in the top 10 most expensive cities.
A strong local currency powered Sydney (third) and Melbourne (equal fourth) up four places each from the previous year, while Singapore rose three places to sixth.
Asian cities now make up 11 of the world's 20 most expensive cities. This compares to eight from Europe and highlights a trend of the cost of living increasing in the Asia-Pacific region. No U.S. city made the top 20.
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