10 most expensive cities in the world

March 18, 2018: The Economist’s Intelligence Unit has just released its list of the world’s priciest metropolises.

10 most expensive cities in the world:

1. Singapore
2. Paris, France
3. Zürich, Switzerland
4. Hong Kong, SAR, China
5. Oslo, Norway
6. Geneva, Switzerland
7. Seoul, South Korea
8. Copenhagen, Denmark
9. Tel Aviv, Israel
10. Sydney, Australia

10 cheapest cities in the world:

1. Damascus, Syria
2. Caracas, Venezuela
3. Almaty, Kazakhstan
4. Lagos, Nigeria
5. Bangalore, India
6. Karachi, Pakistan
7. Algiers, Algeria
8. Chennai, India
9. Bucharest, Romania and New Delhi, India

To determine which cities are costliest, The Economist compared the prices of basic commodities — like the cost of a loaf of bread, bottle of wine, pack of 20 cigarettes or liter of gasoline — in each.

In Singapore, the average price for a loaf of bread is $3.71, a bottle of wine is $23.78, 20 cigarettes go for $9.66 and a liter of gasoline is $1.56. 

In Damascus, the average price for a loaf of bread is 60 cents, a bottle of wine is $3.35, 20 cigarettes go for $1.55 and a liter of gasoline is 50 cents. 

Asian cities tend to be the priciest locations for general grocery shopping, however, European cities tend to be priciest in the household, personal care, recreation and entertainment.