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Copyright 2007 FP Canadian Newspapers Limited Partnership

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NEW YORK -- Moscow is the world's most expensive city for the second year in a row, thanks to an appreciating ruble and rising housing costs, a new survey reports. No Canadian cities were in the top 50.

The cost of living for expatriates in the Russian capital is nearly 35 per cent higher than in New York, which served as the base city for the survey released Monday.
 
London, estimated at 26 per cent more expensive than New York, climbed three spots to second place on a strengthening British pound andsteep rental prices.

South Korea's Seoul ranked third, followed closely by Tokyo at No.4.

The survey by Mercer Human Resource Consulting ranked 143 cities around the world, measuring the comparative cost of more than 200 factors such as housing, transportation and food. The findings are designed to help multinational employers determine compensation for their expatriate workers.

In Moscow, a luxury two-bedroom apartment will cost an expat US$4,000 a month. A CD rings up at $24.83. One copy of an international daily newspaper is $6.30. A fast-food hamburger meal totals $4.80.

A strengthening euro boosted 30 European cities to top spots on the 2007 list -- Copenhagen, Geneva, Zurich and Oslo placed among the top 10.

Eight Asian cities made the top 50, though Taipei, Taiwan, plunged20 places to No. 48.

The Big Apple dropped five places to No. 15, while Los Angeles fell to No. 42 from No. 29 in 2006.
Ranking as the least expensive city for the fifth year in a row was Paraguay's capital Asuncion.
-- Associated Press