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Published 16:04 21 Mar 2017 GMT
The ranking of the cities on the list was affected by a wide range of different factors, including everything from currency valuation, inflation and salaries down to the average price of a loaf of bread, a bottle of wine, 20 cigarettes and a litre of petrol.
Interestingly, five of the biggest movers down the rankings from last year are from China and two are from the UK (London and Manchester), while, in contrast, four of the biggest movers up the ranks are from New Zealand and Australia at a time when the Canadian dollar, the Australian dollar and the New Zealand dollar have all appreciated in value.
In terms of the cheapest cities in the world, India is the place to go with four representatives in the top ten, alongside once city apiece in Kazakhstan, Nigeria, Pakistan, Algeria, Ukraine and Romania.
For more information on the report, check out the Economist Intelligence Unit website.
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