For the first time, New York City has been named the most expensive metropolis in the world in an annual survey. The Big Apple tied with Singapore for the top spot in the Economist Intelligence Unit’s report, with the pair toppling 2021’s leader Tel Aviv down to third place. While Singapore has been the world’s most expensive city eight times in the last 10 years, New York has made its first ascent to the top thanks in part to the dollar’s soaring value as the Federal Reserve has raised interest rates to fight inflation. Los Angeles and San Francisco also moved up the list into the top ten most expensive cities worldwide, while six other U.S. cities—Atlanta, Charlotte, Indianapolis, San Diego, Portland and Boston—were among the 10 cities around the world that made the biggest moves upward in the rankings.