ibnlive » India

Jul 25, 2008 at 10:04pm IST

Mumbai is most expensive in India: Survey

Mumbai: Mumbai is the most expensive city in India and it is among the top 50 in the world.

A global survey shows Indian cities are shooting up in their cost of living index.

According to a Mercer survey, Mumbai has moved up four places to become the 48th most expensive city in the world to live in.

New Delhi has climbed 13 places to the 55th spot. Bangalore and Chennai have also shot up the global rankings. They both have moved up 16 places to stand at the 118th and 117th spot.

House rent, bus tickets, fuel and newspapers were a few of the factors used to compare the cost of living in cities worldwide.

The key reason attributed to the skyrocketing living index is the strengthening of the Indian rupee against the US dollar.

Although India has experienced relatively high inflation, this has increased at similar pace to New York and has therefore had a reduced impact on its cities' rise in the rankings.

However, Moscow has been ranked as the most expensive city to live in, among the 143 cities surveyed.

In Asia, Tokyo has climbed up two ranks to stake a position as the most expensive city in this continent.

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