Expensive cities revealed

Expensivecities revealed
Paris has come top of a ranking of the world's most expensive cities, alongside Hong Kong and Singapore. It's the first time three cities have shared the top spot in the 30-year history of the annual Economist Intelligence Unit survey. The survey compares the cost of common items, such as bread, in 133 cities. It then tracks whether prices have gone up or down by comparing them to the cost of living in New York, which is used as a benchmark. Inflation and volatile currency fluctuations helped drive changes in this year's ranking, with places like Argentina, Brazil, Turkey and Venezuela all seeing a sharp fall in their cost of living ranking. Caracas in Venezuela, where inflation neared 1,000,000% last year forcing the government to launch a new currency, was ranked the least expensive city in this year's survey.