Singapore tops list of most expensive cities for 9th time

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The city-state is known for having the world's highest transport prices due to strict government controls on vehicle numbers.

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Meanwhile, Zurich's rise to the top was driven by the strength of the Swiss franc and elevated prices for groceries, household goods, and recreation.

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Tying for third place in the EIU's rankings were Geneva and New York, with Hong Kong coming in fifth, and Los Angeles in sixth.

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The report observed that Asia has experienced comparatively lower price increases on average compared to other regions.

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Chinese cities, including Beijing, Nanjing, Dalian, and Wuxi have dropped in rankings in 2023, along with Tokyo and Osaka in Japan.

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Two cities were excluded, including Caracas (which faces hyperinflation as was the case in 2022), and Kyiv (which was not surveyed last year as well).

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