Move over, Tokyo! Here comes Moscow.

Mercer Consulting just released its list of the world's most expensive cities, and Moscow, where a cup of coffee will run you more than $5, replaced Tokyo (which had held the No. 1 spot for four consecutive years) at the head of the list. Mercer says the reason is that compared to the yen, the dollar, the ...

Mercer Consulting just released its list of the world's most expensive cities, and Moscow, where a cup of coffee will run you more than $5, replaced Tokyo (which had held the No. 1 spot for four consecutive years) at the head of the list. Mercer says the reason is that compared to the yen, the dollar, the pound, or the euro, the ruble was relatively steady last year. But here's some food for thought. According to 2005 World Bank figures, the GNI per capita in Russia was $3,410. In Japan, that figure is more than ten times that amount: $37,180. Guess there won't be too many Russians buying that coffee, eh?

Mercer Consulting just released its list of the world's most expensive cities, and Moscow, where a cup of coffee will run you more than $5, replaced Tokyo (which had held the No. 1 spot for four consecutive years) at the head of the list. Mercer says the reason is that compared to the yen, the dollar, the pound, or the euro, the ruble was relatively steady last year. But here's some food for thought. According to 2005 World Bank figures, the GNI per capita in Russia was $3,410. In Japan, that figure is more than ten times that amount: $37,180. Guess there won't be too many Russians buying that coffee, eh?

Anyway, rounding out the top five:

1. Moscow

2. Seoul

3. Tokyo

4. Hong Kong

5. London

The only North American city in the Top 10 is New York, which barely squeezes in, tied with Oslo for tenth place. Looking for a cheap place to live? Try Asunción, Paraguay or Harare, Zimbabwe.

Christine Y. Chen is a senior editor at Foreign Policy.

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