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Oslo & Tehran cost extremities

06 March 2007 11:58 (UTC +04:00)

According to the latest Worldwide Cost of Living survey released Monday by the Economist Intelligence Unit, European cities have taken over as the worldâ€™s most expensive. The survey compares the cost of a basket of 160 goods and services in 132 countries, everything from tobacco to toothpaste to theater is considered.
Oslo, Norway topped the list of the most expensive, followed by Paris, Copenhagen, Denmark and London. Two Japanese cities broke into the top ten: Tokyo - which claimed the top spot in 2005 and came in second last year - at fifth and Osaka Kobe at sixth.
Reykjavik, Iceland; Zurich, Switzerland; Frankfurt, Germany and Helsinki, Finland rounded out the ten.
It may be an even better idea to stay close to home. The falling dollar and declining inflation made the United States affordable, even for a penny-pincher. New York, the most expensive U.S. city, didnâ€™t show up on the list until No. 28. Chicago followed at No. 36 and Los Angeles at No. 41.
Atlanta claimed the title of cheapest U.S. city at No. 84.
Outside the EU, Moscow was the most expensive European city and now has a cost of living higher than New York.
Moscow - tied for No.26 with Amsterdam, Netherlands - edged out New York, while two cities in Canada - Vancouver and Montreal - gave the Big Apple a run for its money at Nos. 36 and 39, respectively.
The cheaper European capitals are Athens tied at No. 55, Prague tied at No. 55, Lisbon at No. 59, and Poland Warsaw at No. 63. and in Asia, Manila in the Philippines and Mumbai in India were other low-cost locations.
The region of the world that offers the most bang for a dollar is Latin America, which accounts for a quarter of the cheapest 30 cities.
Africa and the Middle East also were home to inexpensive destinations. Except for Abidjan, Cote Dâ€™Ivoire and Tel Aviv, Israel, cities in these regions were absent from the costliest 50.
The lowest priced city surveyed was Tehran. Its score of 34 meant that the cost of living there was about a quarter of what it would be in Oslo. /APA-Economics/