London prices 'highest in EU'

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The Independent Online

London remains the most expensive city to live in within the European Union and is one of the dearest in the world, an annual report released yesterday says.

In a league table covering the price of housing, food, clothing, transport and entertainment the capital was the costliest in the EU and the 12th in the world – lower than last year when it was 10th. Glasgow was in 72nd position in the world rankings, five ahead of Birmingham. The most expensive cities in the world were Tokyo, Moscow, Hong Kong and Beijing.

Coming second to London in the EU was Copenhagen, followed by Paris, Milan and Vienna. The table was devised by the pay and pensions consultancy William Mercer, which said extremes in the cost of living were gradually being eroded by the wider availability of products internationally.

London was found to be substantially more expensive than many other cities because of the high price of accommodation and transport, as well as the influence of items such as alcohol and tobacco bearing heavy excise duties.