Luanda is world’s most expensive city, New York a distant 32

Updated: Jul 13, 2011, 15:59 PM IST

New York: Angola’s oil rich capital Luanda is the world`s most expensive city, while New York is now placed at a distant 32 in a yearly study undertaken by the Mercer Group.

According to the New York Daily News, the report, which is published annually to help companies assess compensation allowances for expatriate workers, compared the cost of over 200 items, including housing, food and transport in 214 cities, using New York as a reference.

Limited infrastructure and inflation mean that the cost of food is high and the rent on a small two-bedroom apartment in Luanda can cost 7,000 dollars a month.

Tokyo is the second most expensive city in the world, while the city of N`Djamena in Chad is third.

Moscow is in fourth position with Geneva in fifth and Osaka in sixth.

ANI