(CNN) -- Move over Tokyo .
Singapore has dethroned the Japanese capital to become the world's most expensive city in 2014, according to the Economist Intelligence Unit 's latest Worldwide Cost of Living survey.
The bi-annual report, which ranks 131 global cities, credits currency appreciation, solid price inflation and high costs of living for Singapore's dubious new distinction.
"Car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car," says the report.
"As a result, transport costs in Singapore are almost three times higher than in New York. In addition, as a city-state with very few natural resources to speak of, Singapore is relia
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