The 10 least affordable cities in the world
Flickr / Winnie Liu
As high as the cost of living in New York City or San Francisco might be, neither city is the most expensive in the world.
That distinction goes to Singapore, according to The Economist's World Cost of Living Index, which ranks the world's cities by affordability.
No US cities made the list.
The Economist uses the price of food, drink, clothing, rent, transportation, and utility bills in order to calculate the index. We broke ties by comparing the current price of a loaf of bread.
It's designed to help companies figure out how much to compensate employees who are working overseas, and provides an interesting look at how the cost of living varies around the world.
All prices listed are from the Economist's World Cost of Living Index.
10. Copenhagen, Denmark
Flickr/vic xia
World Cost of Living Index: 117
1 kg loaf of bread:
Today: $4.82
Five years ago: $3.82
A bottle of wine:
Today: $13.70
Five years ago: $10.79
A pack of cigarettes:
Today: $7.35
Five years ago: $6.10
1 liter of unleaded gas:
Today: $2.18
Five years ago: $2.05
9. Melbourne, Australia
Shutterstock / Perig
World Cost of Living Index: 118 (tie)
1 kg loaf of bread:
Today: $4.43
Five years ago: $3.77
A bottle of wine:
Today: $22.28
Five years ago: $17.45
A pack of cigarettes:
Today: $15.50
Five years ago: $7.96
1 liter of unleaded gas:
Today: $1.35
Five years ago: $1.28
8. Geneva, Switzerland
Flickr / ITU Pictures
World Cost of Living Index: 118 (tie)
1 kg loaf of bread:
Today: $6.38
Five years ago: $5.86
A bottle of wine:
Today: $8.39
Five years ago: $7.42
A pack of cigarettes:
Today: $8.72
Five years ago: $6.15
1 liter of unleaded gas:
Today: $1.96
Five years ago: $1.69
See the rest of the story at Business Insider