An analysis of product and service prices indicates Singapore has the world's highest cost of living, Britain's The Economist reports.
The magazine said its annual Worldwide Cost of Living survey, which analyzes information on the cost of more than 160 items and services including food and home rentals in 140 cities in 93 countries, indicates Singapore is currently the most expensive city to live in, while Mumbai, India, is the least expensive.
The Economist said Singapore rose from the No. 6 position last year thanks to a 40 percent currency appreciation during the last decade and the weakening yen knocking Japanese cities Tokyo and Osaka further down the list.
Following Singapore were Paris; Oslo, Norway; Zurich, Switzerland; Sydney, Australia; Caracas, Venezuela; Geneva, Switzerland; Melbourne, Australia; Tokyo; and Copenhagen, Denmark.