The Wall Street Journal's Nick Timiraos shares the results of an Economist Intelligence Unit survey, which compares 400 individual prices accross 160 products and services to determine the world's priciest cities to call home.

Singapore claimed this year's top spot, followed by Zurich, Hong Kong, Geneva, and Paris. U.S. cities that made the list include New York, Los Angeles, Chicago, Minneapolis, and Washington, D.C., respectively.

While the stronger dollar meant that the relative cost of living rose for most American cities last year, all 28 cities surveyed in Western Europe saw cost of living declines compared with the U.S. In Russia, the collapse of the ruble caused the cost of living in Moscow and St. Petersburg to decline nearly 40%.

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