TAIPEI (Taiwan News) — Taipei City moved up one spot to reach No. 20 on the list of the world’s most expensive locations for expatriates, according to ECA International.

Hong Kong stayed at No. 1 for the second year running, with eight other cities in East Asia, including Tokyo, Shanghai, Seoul, Beijing, and Singapore ahead of Taipei, UDN reported.

The survey blamed rising food and oil prices amid the Russian invasion of Ukraine for inflation around the world. Rental costs and the price of services were also featured in the calculation of the annual review, ECA said.

The Turkish capital Ankara ended 207th and last on the list, mainly because of currency fluctuations, according to the review.

The cost-of-living research was conducted in March using an array of typical daily consumer goods and services often purchased by expatriates living an international lifestyle.

Hong Kong came out first because the research found a cup of coffee cost US$5.21 (NT$153), a liter of gasoline US$3.04, and a kilogram of tomatoes US$11.51.