New Zealand cities' cost of living soars

Wednesday 16 June 2004

Auckland has leaped 35 places to 80th in a list of 144 of the world's most expensive cities, with the strong New Zealand dollar getting the blame.

By The Landlord

The rise was the largest recorded for any city bar Sydney, which jumped 47 places to 20th in the Mercer Human Resources cost of living survey.

Wellington rose 31 places to 86.

"Cities in New Zealand and Australia have risen most in the rankings this year due to the significant appreciation of local currencies against the US dollar," Mercer principal Rob Knox said.

The survey was done in March using a New Zealand dollar value of 67.76USc. The kiwi has fallen since then and is now nearer 62.5USc. A even larger fall has occurred across the Tasman where the Australian dollar is now at 68.88USc from the 76.23USc used in the survey.

The Mercer survey covers 144 cities and measures the cost of more than 200 items including housing, food, clothing, transport and entertainment.

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