Developing countries typically have higher inflation rates than the advanced ones.Yet despite this, the cost of living is more affordable in the developing world.For one, currencies of developing nations are weaker; income levels and wages also are much lower, translating into lower costs of production.A survey found India to be the least expensive among major countries.Here's how some key cities compare.Milk, bread, potato are among items cheapest in India. Among rich nations, food prices are highest in the US. A 500g loaf of bread costs Rs 226 in New York, over seven times the price in India.Despite higher absolute prices in US and UK, food is cheaper than India. That’s because the US’s GDP per capita in 2017 was 32 times India’s. The average British citizen earns 20 times an average Indian.(Red: Most Expensive City , Green: Least Expensive City India also has one of the lowest mobile internet tariffs, only Shanghai is cheaper, Rio is a shocking high of Rs 30 per minute. Among high income nations, petrol prices are cheapest in the UAE and the US.Likewise in Russia, among the world’s major oil producers, petrol is much cheaper. When it comes to a conveyance-pass or a 1-km taxi fare, India has the lowest prices — possibly because of cheaper labour.(Red: Most Expensive City, Green: Least Expensive City)Eating out, clothes cost less in IndiaWhen it comes to a meal at a budget restaurant, movie tickets or a pair of branded jeans, Indian cities appear to be more affordable.But cost of living is higher: Buying a house in Mumbai requires more money than a similar property in Madrid, Rio or Johannesburg, London being the most expensive among the cities compared here.(Red: Most Expensive City, Green: Least Expensive City)Source: Numbeo