The strengthening dollar has created a lot of movement in an updated list of the world's most expensive cities.
Every U.S. city except two moved up the list this year due to the strengthening dollar, which was largely a product of the Federal Reserve's interest rate increases, according to The Economist Intelligence Unit's 2019 Worldwide Cost of Living Survey, a product of The Economist magazine.
Two U.S. cities were among the top 10 list, which actually comprised 11 cities because of ties. The survey compares 400 prices across 160 products and services in 133 cities across the world, and uses New York City costs as a baseline to create the ranking.
"Domestic help and utilities remain expensive in North America, with U.S. cities ranking highly in these categories," the report said.
For the first time in the survey's history, this year's list saw a three-way tie for first place.
There was also a lot of shifting of cities compared to last year, according to the report.
"The impact of high inflation and currency denominations is reflected in the average cost of living this year," the report said.
The following cities, in ascending order, topped The Economist's list of most expensive cities:
10. (tie) Los Angeles
The city moved up four places to squeak into the top 10 list, partially because of the stronger U.S. dollar. Just five years ago, the city was tied for 39th with New York City.
10. (tie) Tel Aviv
The city was in 29th place five years ago. Currency appreciation has played a part in the rise, but car-related costs have also been a factor, with Tel Aviv's transportation costs 64 percent more than New York's.
7. (tie) New York
Food and clothes can get pricey in the Big Apple, where a loaf of bread costs an average of $8.33-more than double the price in some cities higher on this top 10 list.
7. (tie) Copenhagen
Copenhagen owes its place on the list to high costs for transport, recreation and personal care expenses, according to The Economist. For example, it was among the highest on the list with an average cost of $176 for a woman's haircut.
7. (tie) Seoul, South Korea
The average price of a loaf of bread is $15.59, compared with $8.33 in New York and under $4 for other cities higher on the list. It also has among the highest beer prices in the world.
5. (tie) Osaka, Japan
Like other cities in Asia, Osaka is among the most expensive places for grocery shopping, according to The Economist. It has moved up six places on the list since last year.
5. (tie) Geneva
The city, like most others in Europe, is among the most expensive in the world in the household, personal care, recreation and entertainment categories.
4. Zurich
Germany is known for its grandmaster brewers, and it shows in this city, where the average price for a bottle of beer is $3.25.
1. (tie) Hong Kong
Hong Kong moved up three places on the list to join two other cities as the most expensive in the world. Beer is still cheap here, at $1.77 per bottle, but two-piece business suits are among the priciest in the world, at an average price of $1,874.
1. (tie) Paris
Paris has been in the top 10 of this list since 2003. It is only the euro area city in the top 10, with all others dropping down the list because the currency weakened against the dollar over the past year.
1. (tie) Singapore
A loaf of bread will cost you an average of $3.40 in this city, and the average price of a two-piece business suit is $1,161.
