London 'fifth most costly city'

London is the fifth most expensive city in the world, according to new research.

A survey by the Economist Intelligence Unit shows only Tokyo, Osaka, Hong Kong and Oslo are more costly to live in and visit.

In the bi-annual survey - which compares prices in 134 cities around the world, London - the most expensive in the European Union - was given its highest ranking in a decade. It previously came in at number eight.

In the most expensive cities, World Cup venues Tokyo and Osaka, a taxi ride from the airport to either centre costs an average £164.

The cheapest city, according to the survey, is Tehran.

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