Tokyo most expensive city, Karachi cheapest

Last Updated: Mon, Feb 04, 2013 15:10 hrs

Singapore, Feb 4 (IANS) Tokyo is the most expensive city to live in while Pakistan's port city Karachi is the cheapest, a survey said Monday.

The study by The Economist Intelligence Unit said the other cities in the top five were Osaka, Sydney, Oslo and Melbourne, Xinhua reported.

Among the 131 cities surveyed, Australian cities ranked high mainly due to inflation and currency swings to make them more costly, the survey said.

In contrast, Karachi was at the bottom of the list and ranked as the cheapest city.

"One of the features of the cost-of-living ranking over the last few years has been the rise of many Asian cities offsetting traditionally more costly European locations."

According to the survey, there are now 11 Asian cities and eight European cities among the world's 20 most expensive cities.

A decade ago "this was six Asian vs 10 European cities with four cities from the US".

The survey, carried out twice annually and for more than 30 years, collects over 400 individual prices across 160 products and services.

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