New York and Singapore top the list of world’s most expensive cities in 2022

Sydney sneaks into Top 10 as rising energy prices send inflation soaring globally, Economist Intelligence Unit survey finds

New York was the world's most expensive metropolis in 2022, sharing the unwanted title with Singapore, as soaring energy prices doubled the inflation rate across the major global cities, according to the Economist Intelligence Unit's annual survey.

Last year's leader Tel Aviv dropped to third, while Sydney snuck into the Top 10 and Moscow and St Petersberg in Russia scaled the rankings by as much as 88 places as sanctions and buoyant oil prices propelled prices higher, the EIU's Worldwide Cost of Living report found.