Under The Angsana Tree: Singapore is the world's most expensive city 2018

Update 4 Dec 2021: World’s most expensive city 2021

All over the world, it's been a tough year on wallets

Supply-chain blockages and changing consumer demand have pushed up the cost of living in many of our biggest cities, according to new research published Wednesday, and inflation is the fastest recorded over the past five years.

One city has been experiencing more rapid change than most, jumping from fifth place to first in this year's Worldwide Cost of Living index released by the Economist Intelligence Unit (EIU). The Israeli city of Tel Aviv topped the rankings for the first time, overtaking last year's leader Paris, which is now tied in second place with Singapore.

The EIU attributes Tel Aviv's sharp rise on the index to increases to grocery and transport prices and the strength of the Israeli shekel against the US dollar.

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Singapore named the world's most expensive city

Singapore has been dubbed the world's most expensive city to live in for the fifth year running.

The city state marched in ahead of New York, London and Los Angeles, which didn't even feature in the top 10 priciest places in the Economist Intelligence Unit's (EIU) Worldwide Cost of Living 2018 survey.

The EIU's annual ranking compares the prices of over 150 items in 133 cities around the world, such as bread, wine, cigarettes and petrol. It is designed to help hiring managers calculate fair salaries when relocating their employees overseas.

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Car costs make Singapore world's most expensive city for expats for 5th year running: EIU survey

The high life: Singapore is the most expensive city in the world, for the fifth year running, according to an annual cost of living survey. (foto: AFP/Roslan Rahman)

The cost of owning a car in Singapore has contributed to the country being the world's most expensive city for expatriates to live in, for the 5th year in a row, according to survey results released by the Economist Intelligence Unit (EIU) on Thursday (Mar 15).

Paris came in joint 2nd with Zurich, followed by Hong Kong and Oslo, according to the Worldwide Cost of Living report covering 133 cities worldwide. Seoul and Geneva shared 6th place, while Copenhagen, Tel Aviv and Sydney rounded out the top 10 rankings.

Despite topping the ranking, Singapore still offers "relative value" in some categories, especially compared to regional peers, said the EIU.

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Singapore Ranked the World’s Most Expensive City for 5th Consecutive Year