Tokyo world's most expensive city -- Survey

Tokyo world's most expensive city -- Survey
PRESS TRUST OF INDIA

LONDON, JUNE 28: Japanese capital, Tokyo, has been classified as the msot expensive city in the world by a survey which has ranked London as the most expensive city in the European Union.

Tokyo is follwed by Osaka (Japan), Hong Kong, Beijing, Moscow, Shanghai (China), Seoul, St. Petersburg (Russia), Guangzhou (China) and Lodon in the top 10 ranking, according to the survey, carried out by London-based consultants William M Mercer.

Sydney has jumped significantly from 89th position last year to 58th rank.

The company surveyed 146 cities and measured the comparative costs of more than 200 items in each location. This included the cost of housing, food, clothing and household goods. It also looked at services, including transport and entertainment.

The high value of the pound is partly to blame for the soaring cost of living in London. The price of transport and highly-taxed alcohol and cigarettes also contribute to its place at the top of the European league.