By Daniel Hunter

Singapore remains the world's most expensive city, according to research by the Economist Intelligence Unit (EIU).

Unchanged from last year's top five, Paris, Oslo, Zurich and Sydney follow Singapore as the world's most expensive cities.

However, the EIU said that Zurich would've topped the list, had the analysis not been completed after the surge in value of the Swiss franc.

The survey analyses prices of more than 160 services and products in 133 cities around the world, using New York as a base.

Groceries in Singapore are 11% more expensive than in New York, the survey found. And, combined with Seoul, clothing is 50% more expensive.

The EIU said: "Most significantly, Singapore's complex Certificate of Entitlement system makes car prices excessive, with Singaporean transport costs almost three times higher than in New York."

The survey is designed to allow people to calculate the cost of relocating, or for business travelers to calculate the costs of a business trip.

The EIU also said that it was very rare for the top five the remain unchanged, explaining that falling oil prices and deflation in some markets have had a dramatic effect on some cities.

Most notably, Caracas in Venezuela was sixth on the list last year but fell 124 places due to a weakened currency.