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Singapore is the most expensive city in the world. (Paris)

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The 10 least affordable cities in the world

As high as the cost of living in New York or San Francisco might be, neither city is the most expensive in the world.

That distinction goes to Singapore, according to the Economist's World Cost of Living Index, which ranks the world's cities by affordability.

No US cities made the list.

The Economist uses the price of food, drink, clothing, rent, transportation, and utility bills in order to calculate the index. We broke ties by comparing the current price of a loaf of bread.

It's designed to help companies figure out how much to compensate employees who are working overseas, and provides an interesting look at how the cost of living varies around the world.