Rome is a more expensive place to live than it was three years ago according to the latest UBS Price and Earnings report. The data released by the Swiss bank shows that it is now even more expensive than London.

The 2009 report indicates that Rome is the 17th most expensive city of 73 examined worldwide, compared with the 29th in 2006. It is now more expensive than Milan, the only other Italian city on the list, which is ranked at number 30, compared with its 25th placing in 2006.

The UBD Prices and Earnings report is published every three years.

In the 2009 report Oslo, Zurich, Copenhagen and Geneva are the most expensive cities, compared with Oslo, London, Copenhagen and Zurich in 2006. London has now fallen to 21st on the list, even behind Rome, largely thanks to the depreciation of sterling against the euro.

When it comes to wages Milan does better than Rome. In this year