ZURICH/BASEL, Sept. 17 – Kiev ranked 69th and Moscow 41st in a comparison of purchasing power around the globe published by Swiss bank UBS on September 14, 2012, while Zurich is first, Sydney is second and Luxemburg is third.

The study includes a reference basket of goods based on European consumer habits and includes 122 items in 72 cities around the earth.

The survey shows that Oslo, Zurich and Tokyo are the most expensive cities in the world. One remarkable finding is that when rents are included, relative price levels compared to New York move down in all cities apart from Hong Kong, reads the report.