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The Economist Intelligence Unit (The EIU) is the research and analysis division of The Economist Group and they have published a 'World Cost of Living 2017' report that ranks cities across the world based on how expensive or cheap life there actually is.

Singapore has been in the top position for four years and this year has been no different. However, there have been significant changes in other cities such as Paris which is only 7 per cent pricier than New York (used as the base standard of 100) compared to five years ago when it was 50 per cent more expensive. Manchester in United Kingdom fell 25 positions from last year to 51. 

Most expensive cities to live in

Asian cities dominate the most expensive list, but grocery shopping is one of the priciest factors here, while in Europe the most expensive things to do fall in the recreation and entertainment activities.

Rank City Country Cost of living Index
1 Singapore Singapore 120
2 Hong Kong Hong Kong 114
3 Zurich Switzerland 113
4 Tokyo Japan 110
5 Osaka  Japan 109
6 Seoul Korea 108
7 Geneva Switzerland 107
7 Paris France 107
9 New York  United States of America 100
9 Copenhagen Denmark 100

Cheapest cities to live in

India has three of its major cities in the cheapest rankings which is largely attributed to the population numbers and income inequality. Supply and labour chain costs are also much lower, in comparison to Western standards. However, many of the cities in the list are getting cheaper due to political unrest along with economic disruption. 

Rank City Country Cost of living Index
133 Almaty Kazakhstan 38
132 Lagos Nigeria 39
131 Bangalore India 42
130 Karachi Pakistan 44
127 Algiers  Algeria 45
127 Chennai India 45
127 Mumbai India 45
124 Kiev Ukraine 47
124 Bucharest Romania 47
124 New Delhi India 47