Singapore, Zurich world's most expensive cities - EIU

Singapore and Zurich share the title of the world's most expensive cities, according to the Economist Intelligence Unit (EIU)

Geneva, New York, and Hong Kong follow closely behind in the global cost-of-living rankings

The average price increase for over 200 common goods and services is 7.4% year on year, a decrease from last year's 8.1% but still notably higher than the trend from 2017-2021

Singapore has topped the rankings for the ninth time in the last eleven years due to high prices in various categories, including transportation, clothing, groceries, and alcoho

Zurich's position is attributed to the strength of the Swiss franc and elevated prices for groceries, household goods, and recreation

Asia experiences relatively lower average price increases compared to other regions, according to the EIU

Chinese cities, including Nanjing, Wuxi, Dalian, and Beijing, have seen significant declines in the rankings, along with Osaka and Tokyo in Japan