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Hamilton retains title as most expensive city

Bermuda’s residents already know to their cost how expensive the island is.

Now, for the fourth time, a study has claimed Hamilton is the highest-priced city in the world.

The capital, with a population of just 1,010, came top of a list compiled by Numbeo.com, which compared the cost of living in cities against New York.

After Hamilton, Swiss cities, including Zurich, Lausanne and Geneva, take up six of the next nine spots.

The Scandinavian region takes up the rest of the top ten, with Stavanger and Oslo in Norway, and Iceland’s Reykjavik.

Numbeo put the table together based on costs relative to New York City.

An index of 120 translates to expenses 20 per cent higher than in the Big Apple.

The website’s cost of living 2018 midyear figures showed Hamilton at 137.56 — or more than a third more expensive to live in than New York.

The restaurant price index for Bermuda’s capital was 151.77, although rent was said to be only slightly more than New York at 103.03.

Groceries were about 25 per cent more expensive with an index figure of 125.56.

But Hamilton residents were also said to be able to enjoy sufficient purchasing power.

The Numbeo data suggested an average salary will pay for around 14 per cent more goods and services than an average New York salary could cover.

Hamilton has found its way to number one on the cost of living list each year since 2015.

New York came in at number 12 on the 2018 midyear figures, with Paris at 26 and London at 34.