According to a survey, Mumbai has been declared the most expensive city in the country as per the cost of living whereas it is 55th globally. The list revealed that Mumbai is more expensive than Australia's Melbourne (58th) and Europe's Frankfurt (68th) cities.
The survey was conducted on the basis of cost of living by international consulting firm, Mercer. The survey declared Hong Kong as the world's most expensive city.
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The survey was conducted in 209 cities around the world in which the list was prepared by the comparison of the rate of 200 items in every city. Among the Indian cities surveyed, the highest inflation rate was recorded at 5.57 per cent. According to the survey, increased rate of liquor as well as butter, meat, poultry and farm products has increased the cost of living for the citizens.
Apart from Mumbai, the list also consisted of other cities Delhi (103), Chennai (144), Bengaluru (170) and Kolkata (182). The survey also showed that Mumbai has the highest real estate prices for residential purposes throughout the world.
The 2018 survey ranked 209 cities across five continents, measuring the comparative cost of more than 200 items in each location including housing, transportation, food, and clothing.
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