5 Mar, 2014
Singapore topples Tokyo as world’s most expensive city | CTV News
SINGAPORE (AFP) – The soaring cost of cars and utilities as well as a strong currency have made Singapore the world’s most expensive city, toppling Tokyo from the top spot, according to a survey Tuesday.
Tokyo’s weakening yen saw it slide to sixth place, the position previously occupied by Singapore, in the 2014 Worldwide Cost of Living survey by the Economist Intelligence Unit (EIU).
“Singapore’s rising price prominence has been steady rather than spectacular,” said a report accompanying the survey by the research firm. It said a 40 per cent rise in the Singapore dollar along with “solid price inflation” pushed the country to the top of the twice-yearly survey from 18th a decade ago.
Read the rest: Singapore topples Tokyo as world’s most expensive city | CTV News.
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