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New York City tops list of world's most expensive cities

New York City tops list of world's most expensive cities
New York City tops list of world's most expensive cities 00:25

NEW YORK -- New Yorkers may have already believed this to be true, but now it's official:  New York City is the most expensive city in the world.

For the first time, the Big Apple tied with Singapore on the Economist Intelligence Unit's annual worldwide cost of living survey.

Coming in third place was Tel Aviv, followed by Hong Kong and Los Angeles.

In 2021, New York City ranked sixth on the list.

The survey compares rent, cost of living and inflation, among other factors. For more on the survey, click here.

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