From Iceland — Reykjavík World's 5th Most Expensive City

Reykjavík World’s 5th Most Expensive City

Published December 19, 2011

The results of a new survey conducted by Pricerunner might come as a surprise to those who think Iceland could be a cheap destination due to the alleged state of its economy.
Pricerunner compiled the survey by starting first with global averages for things such as basic goods, like milk and eggs, to luxury items and technological gear. Using this global average as a measuring stick, they then see what these items cost in different cities around the world.
According to their results, Oslo, Norway is the most expensive city in the world, with prices 35.3% above the global average. This is followed by Sao Paolo, Brazil (27.1%), Sydney, Australia (20.5%), Stockholm, Sweden (15.5%) and then Reykjavík, Iceland (14.9%).
Among the cities surveyed, Mumbai, India turned out to be the cheapest, with prices in that city 26.9% below the global average. Interestingly, this was followed by Bangkok, Thailand (19.8% below), Dubai, UAE and San Francisco, USA were tied (16.2% below), followed by Shanghai, China (14.8% below) and then New York, USA (14.5% below).
The full list can be seen here.

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