text: A new financial survey has confirmed what Australians already know. We live in the most expensive country in the world. The annual survey from Deutsche Bank has shown that for the fourth consecutive year, Australians pay higher prices for a range of consumer goods and services than are paid in any other place. A survey has shown Australia to be most expensive country in the world for the fourth year in a row . A luxurious hotel room in Sydney will set you back around $1126 per night, $640 more than in New York . The survey uses the purchasing power parity index to determine the relative price levels to the US dollar. It found that Australian prices are at 112 per cent of the US, meaning that we pay $1.12 to every $US1. The United States remains the world's cheapest developed country. New Zealand came in as the second most expensive country in the world and the United Kingdom was third. The index used a wide-ranging scale of differently priced items to judge the most costly country in the world. Sydney has the most expensive five star hotel rooms in the world which cost an 132 per cent more than their equivalent in New York. A luxurious Sydney hotel room will set you back $1126 per night with New York being much more reasonable at $485. A two-litre bottle of Coca Cola also tops the charts in Australia at $4.30, 51 percent more than New York. While Brazil has the most expensive iPhone 6's at nearly double the price of the United States, Australia's iPhone's still cost over $151 more than America. The report found that Australian prices are at 112 percent of the US, meaning that we pay $1.12 to every $US 1 . Our public transport, petrol, cigarettes and taxi services also weigh in as more costly than America . Our public transport, petrol, cigarettes and taxi services also weigh in as more costly than America. However, on the flip side, a monthly gym membership in Sydney and Melbourne are nearly half the cost of New York prices. Sydney Business School is also more than half the cost of Harvard Business School in Boston. And when going to the movies is concerned, Australians will break even with it costing the same to see a movie in Sydney as it does in Hong Kong, Shanghai and New York.
target: Deutsche Bank survey confirms what Australians already know .
  For the 4th year straight Australia ranked as the world's costliest country .
  A 2-litre bottle of Coke costs 51 percent more than in New York .
  Biggest difference is hotel rooms, which are double the price of New York .