Tokyo’s cost of living higher than in the Big Apple

TOKYO has replaced Hong Kong as the world’s most expensive city, according to a lifestyle survey that also showed the gap between the world’s costliest and cheapest cities narrowing for a sixth straight year.

Moscow held steady in second place, followed by the western Japanese city of Osaka, which went up three places from 2002.

At the other end, Asuncion, capital of Paraguay, replaced Johannesburg as the cheapest city in the world.