Melbourne and Sydney have been named the two most expensive cities in the world to buy beers and cigarettes, and nearly at the top for public transport.
Deutsche Bank on Monday released its annual cost of living indexes, which ranks the living costs of 69 cities across the globe.
It found Australia’s two largest cities were the most expensive places in the world to have a night-out due to ‘relentless’ ‘sin taxes’.
Melbourne led the ranking with five beers and two 20-packs of Marlboros found to cost US$111.20 (AU$158.89), with Sydney coming in second at US$109.50 (AU$156.47).
The report found Melbourne’s ‘Oasis Index’, the cost of five beers and two packs of cigarettes, had risen 89 per cent in the last decade.
The Oasis Index in Sydney rose by 82 per cent over the same period.
Two of New Zealand’s biggest cities, Auckland and Wellington, came in third and fourth place respectively.
The Oasis Index for Auckland was US$68.60 while Wellington was US$67.10.
Is it a wonder nights staying in are the new normal? Melbourne and Sydney are the most expensive cities in the world to buy beer and cigarettes, with public transport close behind
The price for five beers and two 20-packs of Marlboros in Melbourne was $158.89, according to Deutsche Bank
London rounded out the top five at US$63.90.
The cheapest city was Shanghai at US$10.40, followed by Rio de Janeiro at US$11.70 and Cairo at $12.10.
Melbourne and Sydney have copped the most expensive Oasis Index ratings every year since 2012.
Sydney also came close to being labelled the most expensive for public transport this year.
London took the top spot with a monthly pass costing US$268, followed by Sydney in second place at US$151 (AU$218).
New York was in third at US$140 and Melbourne came fourth at US$138 (AU$197).
Independent Brewers Association head Sabrina Kunz told News.com.au the data proved a night out in Australia was becoming ‘completely unaffordable’, largely due to the high excise on alcohol and tobacco.
‘We’re increasingly seeing that where people can’t afford to go out, they can’t afford to socialise in these places because they can’t afford to buy a beer or a meal,’ she said.
Independent Brewers Association head Sabrina Kunz warned taxes made it ‘completely unaffordable’ for Australians to go out
‘And I’m not sure that’s the direction we want society to be going in.’
Federal Minister Clare O’Neil this week claimed the growing prices were ‘not a tax problem, it is an enforcement problem’.
‘Organisations like the Cancer Council and the Australian Medical Association are saying don’t do this because all you’re going to do is encourage more Australians to smoke and give billions of dollars back to big tobacco companies,’ she said.
However, Ms Kunz slammed the alcohol and tobacco excises as a ‘failure of public policy’ that were forcing venues out of business.
‘We’re seeing hospitality businesses close at an alarming rate,’ she said.
‘We’re seeing mental health overtake cancer as the world’s number one health concern, and we’re making it impossible for people in Australia to get together to have a round of beers with their mates.’
