Living in China cheaper as Asian cities get pricier

The cost of living in Asian cities generally increased last year, with Singapore remaining at the top for the fourth consecutive year. But exchange rate volatility and resurgent commodity prices, rather than productivity gains, were responsible for the increase.

Asia remains the most diverse region in terms of the cost of living. Ironically, with several major agricultural and manufacturing product exporters, East Asian cities tend to be the world's priciest places for tradable products, such as general grocery and clothing.

Asian cities continue to climb up the world cost of living ladder, accounting for half of the 10 most expensive cities in the latest Worldwide Cost of Living Survey from The Economist Intelligence Unit.