Tokyo tops out the list of the world’s most expensive cities, but currency fluctuations and rapid urbanisation have seen some surprising new entries.
Caracas a 1kg loaf of bread will cost you US$9.40, in Mumbai just $0.86. Perhaps no wonder, then, that the chaotic Venezuelan capital ranks as one of the world’s priciest cities – as high inflation rates, chronic food shortages and a currency black market drive the cost of living for average residents through the roof (even as petrol remains jawdroppingly cheap).But Caracas is not alone – from Tokyo to Singapore, unaffordable megalopolises are crippling their less fortunate residents.
Below are the most (and least) expensive cities in the world in 2013, as well as comparisons of what it will cost you for petrol, bread and wine in each. (The survey from the Economist Intelligence Unit compares more than 400 individual prices across 160 products and services, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.)