According to a survey by the Economist Intelligence Unit (EIU) of 131 cities worldwide, the top five most expensive cities in the world remain unchanged from a year earlier although foreign currency movements and falling oil prices had an effect on the cost of living.

Using New York as a base, the survey compares the cost of more than 160 services and products including food, clothing and utility bills. All of the information is designed to be used online as a way to calculate the cost of relocating and living for expatriates and business travelers.

Japan's capital Tokyo, which topped the list in 2013, fell to 11th place this year as its currency weakened against the dollar and deflation continued to impact the economy.

Some of the cities in Asia's third-largest economy -- India -- stood out as the least expensive in the world, with Bangalore, Mumbai and Chennai included in the list of the five cheapest.

  Seoul, South Korea