Moscow has overtaken Tokyo to become the most expensive city in the world, according to a new study.
According to Mercer Human Resource Consulting's annual report, an expat's money stretches three times further in Asuncion, Paraguay - the cheapest city.
Mercer said it ranked 144 cities on transport, food, clothing, household goods and entertainment costs.
After Moscow the world's next most expensive cities are Seoul, Tokyo, Hong Kong and London.
The main cause of Moscow's ascent was a surge in property values, Mercer said in its annual report.
"Steep accommodation costs have contributed to Moscow's high ranking, as the recent property boom has driven up rental prices for expatriates," Mercer said in its report.
Ten most expensive cities
Seoul, South Korea
Hong Kong, China
New York, US