NEW YORK -Moscow is the world's most expensive city for the second year in a row, thanks to an appreciating ruble and rising housing costs, a new survey reports.
The cost of living for expatriates in the Russian capital is nearly 35 percent higher than in New York, which served as the base city for the survey released Monday.
London, estimated at 26 percent more expensive than New York, climbed three spots to second place on a strengthening British pound and steep rental prices.
In Moscow, a luxury two-bedroom apartment will cost an expat $4,000 a month; a CD rings up at $24.83; one copy of an international daily newspaper is $6.30; and a fast-food hamburger meal totals $4.80.
I suppose Russia is using it's windfall from having the world's largest natural gas reserves and being the top arms exporter in the world to finance some of this unprecedented growth.