LIVE MARKETS-The most expensive cities for necessities to niceties

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

THE MOST EXPENSIVE CITIES FOR NECESSITIES TO NICETIES

With inflation still a hot topic for investors and consumers, Deutsche Bank Research Institute was out with a report mapping the world's most expensive places to live out of a group of 69 cities.

Jim Reid, global head of macro and thematic research, writes that "inflation has made a roaring comeback over the last five years" and with currency swings influencing purchasing power, the cost of living rankings have been changing.

For example, when DB first started writing the report in 2012, "U.S. cities were a bit of a bargain relative to their developed market peers - rarely cracking the global top 10 for prices, or pay," according to Reid.

But more than a decade later, U.S cities are jostling with Geneva and Zurich near the top of the price charts on many expenses. And, Reid says one surprise is how 'cheap' India is versus international peers, noting that it would likely be the world's third biggest economy by the end of the decade and still remain one of the fastest growing.

As for the U.S., he attributed the change to a strong dollar, U.S. exceptionalism, Wall Street strength and a strong technology sector.

However, if 2012 represented "cheap U.S." Reid suggests that this year may represent "peak U.S."

While acknowledging that quality of life is subjective, DB lists Luxembourg, Copenhagen, Amsterdam, Vienna and Helsinki as the top five in that category. Zurich and Geneva slipped from the list as their cost of living is the most expensive in the world. Mentioning deterrents such as expensive housing, long commutes and high pollution levels, DB gives low rankings to some of the world's highest profile cities, with Tokyo at 26th, Paris at 44th, Hong Kong at 48th and London and New York tied at 50.

Of course the inflation ranking changes depending on the item. For example, New York is the most expensive city of the group to rent a 3-bed apartment and is followed by Singapore, Boston, London and San Francisco. Hong Kong is 7th while Paris is 16th, Frankfurt 31st and Tokyo is 34th.

But, to buy an apartment, on a per square meter basis, you'll pay most in Hong Kong, followed by Zurich, Singapore, Seoul and Geneva, with London 6th and New York 7th. Tokyo is 21st by this measure, but Frankfurt is 25th.

Interestingly in utilities, 18 of the most expensive cities are in Europe because of the lack of cheap Russian gas. Germany leads with Munich, Frankfurt and Berlin all in the top five while Warsaw, Vienna and Prague are in the top 10.

For the priciest groceries, Geneva leads the charge, followed by San Francisco, then Zurich, New York and Boston, with five U.S. cities in the top 10.

How about eating at a restaurant? You'll shell out most in Zurich and Geneva, New York, San Francisco and then Boston. With cinema, Zurich and Geneva also rank at the top followed by London, Copenhagen and New York. Going on a date, Geneva, Zurich, Copenhagen, Oslo, London and New York are most expensive while Bangalore is the cheapest.

Seeking something new to wear for that date? Buenos Aires is the most expensive of the cities to buy a summer dress, with Geneva next, followed by Oslo, Riyadh and then Dubai.

Internet data is most expensive in the Middle East and the U.S. while New York tops the list for gym fees followed by Singapore, Doha, Riyadh and then San Francisco.

(Sinéad Carew)

EARLIER ON LIVE MARKETS:

AFTER STRONG GAINS, CAN INDUSTRIALS KEEP GOING? CLICK HERE

INVESTORS MOST CONFIDENT TO BET ON EM SINCE 2023, HSBC SAYS CLICK HERE

TUESDAY TRIO: CONSUMER CONFIDENCE, CASE-SHILLER, CURRENT ACCOUNT CLICK HERE

STOCKS HAVE STRONG OPEN; TRUMPS ORDERS ISRAEL TO STOP IRAN STRIKES CLICK HERE

WALL STREET STOCK FUTURES RISE ON HOPES OF IRAN-ISRAEL CEASEFIRE CLICK HERE

SWEDISH CROWN WEAKNESS ON THE HORIZON CLICK HERE

STOXX JUMPS AS AIRLINES TAKE OFF; ENERGY LAGS CLICK HERE

EUROPE BEFORE THE BELL: GET READY TO JUMP CLICK HERE

TRUMP TOUTS 'FOREVER' CEASEFIRE, OIL SLIDES CLICK HERE

TUESDAY TRIO: CONSUMER CONFIDENCE, CASE-SHILLER, CURRENT ACCOUNT - CLICK HERE