Oslo has topped a list of the world’s most expensive cities compiled by price comparison site PriceRunner.

The Norwegian capital was the most expensive city of 32 countries surveyed in the International Price Comparison survey, topping the list for the fourth year running.

The survey, which looked at a range of products that included everyday items such as milk and petrol as well as luxury items and technology, found that prices in the city were a third more expensive on average than the global average.

Many of the world’s regions have switched places in the UBS rankings as currencies fluctuated in the wake of the financial crisis.

UBS Bank used to rank London the most expensive city in the world – but it has now plummeted to the 22nd spot. All in just one year.

In the 2009 list, Oslo has been crowned the most expensive city in the world, followed by Zurich and Copenhagen.

Mercer has just released its top 50 most expensive cities in the world based on cost of living.

Mercer’s Worldwide Cost of Living Survey 2008 is used to help multinational companies and governments determine living costs for their expatriate employees, who usually demand a relatively high quality of life.

Mercer’s survey covers 253 cities across six continents and measured the relative cost of over 200 items in each place, including housing, transport, food, clothing, household goods and entertainment.