This is particularly concerning for those who are looking to exchange travel money, as rates are continuously fluctuating.
Other reasons for changes to the cost of living in major urban areas include supply-chain problems due to border closures, government actions, a fall in disposable incomes and changes in lifestyles as a result of lockdowns.
Other costly cities listed in the report included Singapore, Osaka in Japan, Tel Aviv in Israel, New York City in the US, Geneva in Switzerland and Los Angeles in the USA.
No UK city was included in the EIU index.
Along with the most expensive cities, however, the report also discovered which cities had slipped down the ranking, with prices notably lower.
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