Copestake, said in London that Sydney's living expenses are nearly 50 percent higher than those of New York, the world’s commercial center. However, ten years ago, the cost of living in Sydney was more than 25% cheaper than in New York. In U.S. dollars, the price of a loaf of bread in Sydney has nearly doubled over the past 10 years, while the price of gasoline has tripled and the price of rice has nearly quadrupled, he said. According to the institution's ranking of the world’s most liveable cities, Melbourne ranked first, but due to its high cost of living, it ranked eighth in the world. Welcome to the cost of living survey which examines hundreds of products and services prices across 160 categories, including food, clothing, rent, transportation, utilities, and entertainment expenses. This survey has been ongoing for 30 years, with comparisons made based on the cost of living in New York as the base. Perth ranked 12th in the survey, Brisbane 13th, and Adelaide 17th. Among Australian cities, the cost of living is higher than in the following cities: London, Rome, New York, Berlin, Hong Kong, Beijing, Shanghai, and Rio de Janeiro. Australia’s high living expenses can be attributed to the strong Australian dollar. The appreciation of the Australian dollar against the U.S. dollar over the past ten years has doubled. A wave of fare increases occurred last year in Australia, also contributing to the high cost of living. The most expensive city in terms of global cost of living is Zurich (first this year, fifth last year), followed by Tokyo (unchanged from last year) and Geneva (third last year, ninth). The cities with the lowest living costs are Dhaka (Bangladesh), Algiers, and New Delhi.
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