Home topics news Economy News Economy Report finds Sydney more expensive than Melbourne Rhiannon Sawyer February 7, 2013 It’s official: Sydney is more expensive to live in than Melbourne, claim the results of an annual survey into cost of living around the world. The report, conducted bi-annually by The Economist Intelligence Unit, has found that Sydney is the third most expensiv e city to live in around the world. Melbourne is the fifth. According to the report, entitled ‘ The Worldwide Cost of Living 2013′, Sydney is beaten to the top spot by both Tokyo, at number one, and Osaka at number two. Tokyo has repeatedly topped the list in the last 20 years, being named the most expensive city to live in in every year but six. Australian cities have only recently been added to the top ten ranking, ten years ago no Australian city made the top 50 most expensive cities. This swift rise is due to economic growth and local currency swings. Survey results come from comparing the cost of 160 products and services, including food, drink, clothing, transport and rent. Mumbai in India and Karachi in Pakistan are the two cheapest cities to live in according to the index, with the average US$ price of 1kg of bread being $0.86 in Mumbai, in comparison to Tokyo’s $9.06. Businesses are also feeling the cost of living affecting things like rental costs, but according to Patricia Forsythe, executive director of the Sydney Business Chamber, these costs are mostly