Singapore named world's most expensive city again

Singapore has been named the most expensive city in the world for a second year in a row, according to a research by the Economist Intelligence Unit (EIU).

The top five cities in the list remained unchanged from a year earlier with Paris occupying the second spot followed by Oslo, Zurich and Sydney, reported the BBC.

The research surveyed 133 cities worldwide, using New York as a base. It analysed the costs of more than 160 products and services including, food, clothing and utility bills.

The data showed that Singapore was about 11 percent more expensive in comparison to New York for basic groceries. Along with Seoul, it was also found to be the most expensive city in the world for clothes, with prices 50 percent higher than New York.

The EIU said, "Singapore's complex Certificate of Entitlement system makes car prices excessive, with Singaporean transport costs almost three times higher than in New York.