by Alan Thornhill
Australian capital cities have been surging, over the past year, in a list of the world’s most expensive places to live.
The table, compiled by the global research company, Mercer, shows Sydney, for example, rising to 11th place on that list, from 14th a year earlier.
Melbourne rose to 15th place, from 21st a year earlier.
These big jumps were surprising, as Australian prices, measured on the Consumer Price Index, rose by a relatively modest 1.6 per cent, in the 12 months to the end of March.
The comparisons in the Mercer list were also made over that time.
Perth, the capital of the resource rich State of Western Australia, jumped 11 places, to 19th on that list.
Tokyo took top place, followed by Luanda in Angola.
Osaka took third place, followed by Moscow, Geneva and Zurich.
But other Australian cities also figured prominently.
Canberra, for example, rose to 23rd place, from 34th.
Brisbane was close behind, at 24th place, up from 31st.
Adelaide, though, had the most spectacular rise, from 46th to 27th place.
Hobart was the only Australian capital to miss out on a place in Mercer’s list of the world’s 50 most expensive cities.
Mercer says the survey, from which its list is compiled, covers 214 cities across five continents.
It counts the cost of food, transport, household goods, entertainment and housing.
Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
Thursday December 12
The Dow Jones index fell 129 points to 15,844
Holden will stop producing vehicles in Australia in 2017. Toyota likely to follow suit
Unemployment figures for November to be released at 11.30am
High Court to rule today on a Commonwealth challenge to an ACT law permitting same sex marriages. About 30 couples directly affected
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