Singapore retains its title as the world’s most expensive city

The city is particularly expensive for transport and clothing.

For the ninth time in 11 years, Singapore ranked first in the list of the world’s most expensive cities compiled by the Economist Intelligence Unit (EIU).

Singapore tied with Zurich in this year’s rankings. Meanwhile, Singapore and Hong Kong were the only two Asian cities in the top 10.

According to EIU’s Worldwide Cost of Living 2023 report, Singapore is particularly expensive for transport and clothing.

On average, prices had risen by 7.4% YoY in local currency terms for over 200 commonly used goods and services in the world’s major cities.

Of the ten categories in EIU’s price index, utility prices rose the most slowly over the past year, whilst grocery prices continued to increase strongly.