Paris outstrips London as the EU's costliest capital

PARISIANS PAY more to live in their city than Londoners pay here, shows a survey published yesterday. The French capital has regained its position as the European Union's costliest place after London slipped three positions to ninth in the league of the world's most expensive cities.

An analysis of prices in 122 cities across the world by The Economist Intelligence Unit revealed the cost of living in London is now below Paris (seventh) - as well as Zurich (fourth), Oslo (sixth) and Geneva (eighth).

The British capital had climbed to sixth position last year, its highest, and Manchester this year sits at 26th position, level pegging with Chicago and Frankfurt.

Japan remains the country with the most wallet-damaging cities, the capital, Tokyo, and Osaka taking the top two places, followed closely by the now Chinese-controlled Hong Kong in third. The cheapest place to live was the Zimbabwean capital of Harare, with costs at the same level as Quito, the capital of Ecuador, which tumbled 14 places because of a devaluation of the currency.

Brazil's two principal cities of Sao Paulo and Rio de Janeiro slumped in the rankings after the South American financial crisis earlier this year, with Rio falling from 28th to 111th.

Dearest

Cities

1. Tokyo

2. Osaka - Kobe

3. Hong Kong

4. Zurich

5. Libreville

6. Oslo

7. Paris

8. Geneva

9. London

10. Copenhagen

11. Vienna

12. Beijing

13. New York

14. Stockholm

15. Shanghai

16. Guangzhou

17. Abidjan

18. Dusseldorf

19. Munich

20. Singapore