Swiss cities Zurich and Geneva have held on to positions two and three respectively in a UBS cost of living ranking, while Oslo remains the priciest location.This content was published on August 16, 2011 - 17:19
The annual study by Swiss bank UBS shows the effects of currency moves and compares prices and earnings in 73 cities worldwide for 122 goods and services.
After Oslo, Zurich and Geneva, the next in line are Copenhagen, Stockholm and Tokyo. The American cities surveyed showed lower price levels than in previous years, with New York slipping from sixth to 14th most expensive location since 2010.
The survey also measures purchasing power and found that employees in Zurich, Sydney and Luxembourg benefit from the highest purchasing power based on their net hourly wages.
UBS publishes an in-depth study on prices and earnings every three years, updating it in intervening years.
In 2010 and again this year, UBS researchers adjusted the most important indices from the 2009 survey for inflation, GDP growth and changes in foreign exchange rates.
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