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Australia Crowned the Most Expensive Place in the World. Again.

As anyone who’s ever bought an avocado in this country can attest, Australia is a pretty expensive place to live.

And to prove it, we’ve just received the dubious honour of being recognised as ‘the most expensive country in the world’. Again.

Deutsche Bank have released their annual Mapping the World’s Prices report for 2015, and for the fourth year in a row Australia has topped the list.

The United States takes the gong for cheapest developed country in the world (although the gap is closing thanks to the stronger US dollar), while Brazil is the world’s most expensive developing nation.

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The report compares how much a standardised group of products and services cost across a range of developed and developing countries on a Purchasing Power Parity basis, which accounts for exchange rates.

Sydney is the fifth most expensive city in the world on the cost of living index (Singapore, Paris, Oslo and Zurich all rank higher), three rungs ahead of Melbourne in eighth place.

A five star hotel room in the harbour city costs a solitary-tear-inducing US $880, compared to US $273 in Melbourne and US $379 in New York.

It’s also the sixth most expensive city in the world to go on a date, if you’re after a Seinfeld-esque evening consisting of cab fares, McDonalds burgers, soft drink, two movie tickets, and a couple of a beers.

Fortunately, Australia does rate pretty well on a couple of important measures.

A pint of beer will only set you back US $5.78 in Sydney and $6.15 in Melbourne according to Deutsche Bank (although we’d like to know where they’re drinking). That compares to $7.00 in New York City.

And Australia is also a pretty good place to buy an iPhone 6. While Apple’s latest gadget is 18 per cent more expensive here than it is in America, that pales in comparison to Brazil, where a new handset will cost you almost double than it will in the good old US of A.

Oh, and we also have some pretty nice beaches and stuff too. They’re still free.

In conclusion, Australia is expensive. But you already knew that, didn’t you?

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Image (pre addition of crown): Tanner Ford, Flickr