8 (tie). Seoul, South Korea (rank movement: down one place) – Los Angeles ties in eighth position with Seoul and Copenhagen. The report notes that clothing and utility costs are particularly high in the South Korean capital.
8 (tie). Copenhagen, Denmark (rank movement: none) – The most expensive European cities include Zurich, Geneva, Copenhagen and London. The EIU suggests that this might might reflect that "non-eurozone cities have become pricier in relation to their neighbours."
7. New York (rank movement: up 15 places) – New York has climbed 42 places in the rankings in the last five years. However, the report attributes this to "currency headwinds rather than significant local price rises."
6. London (rank movement: up five places) – London has its highest ranking in almost a decade. It's the most expensive city in the top 10 for cigarettes. A pack of 20 costs $14.30.
5. Paris (rank movement: down three places) – Although hanging out with friends by a park is a much cheaper option than hitting the museums or wine bars, the average price of table wine in Paris has dropped by $1.56. It's now $10.71 -- cheaper than London and New York.
4. Geneva, Switzerland (rank movement: up three places) – A couple of years ago, Geneva was the only European city in the top 10 where a liter of unleaded gasoline cost less than $2. Now oil prices have dropped globally, and is most expensive in Hong Kong, at $1.76 per liter.
2. Hong Kong (rank movement: up seven places) – A 1-kilo loaf of bread costs $4.36 on average in Hong Kong, compared with $3.23 in Copenhagen and $12.44 in Seoul.
2. Zurich, Switzerland (rank movement: up two places) – European cities make up half of the top-10 list, while this year a weakened Australian dollar pushed Sydney and Melbourne down to 20th and 21st place.
1. Singapore (rank movement: none) – Even the view comes with a price. The city-state has few natural resources. Its dependence on other countries for energy and water pushes up utility bills, and "entitlement fees" make things like car ownership expensive.
World's cheapest city: Lusaka, Zambia – The Zambian capital of Lusaka is the world's least expensive city in 2016, followed by Indian cities Bangalore and Mumbai.