The bi-annual Worldwide Cost of Living survey compares more than 400 individual prices across 160 products and services in 131 cities, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.
Singapore's number one position is down to the high cost of running a car in the city, high public transport prices, high utility costs and is also the most expensive place in the world to buy clothes.
Tokyo in Japan was pushed off the top spot due to the weakness of the yen.
Caracas, Geneva, Melbourne and Tokyo all had equal results.
World's 10 most expensive cities to live in 2014
1. Singapore
2. Paris
3. Oslo, Norway
4. Zurich, Switzerland
5. Sydney
6. Caracas, Venezuela
7. Geneva, Switzerland
8. Melbourne
9. Tokyo
10. Copenhagen, Denmark
Mumbia, India
Down at the bottom end of the scale, Mumbai in India is the cheapest place in the world to live. Although the city is tipped for future growth, low wages drive down household spending and keep general living costs low.
This, along with the plentiful supply of cheap goods, all works towards keeping prices down.
World's 10 least expensive cities to live in 2014
122. Riyadh, Saudi Arabia
123. Jeddah, Saudi Arabia
124. Panama City, Panama
124. Bucharest, Romania
126. Algiers, Algeria
127. Damascus, Syria
127. Kathmandu, Nepal
129. New Delhi
130. Karachi, Pakistan
131. Mumbai, India
