Latin America's most expensive country revealed

Uruguay has the highest average monthly cost of living in Latin America at US$1,590, while Singapore remains the world's most expensive country overall with an average monthly living cost of US$3,840, according to international payments company Wise.

Wise's estimates compare the average monthly cost of living for a single person across countries, excluding rent unless otherwise specified. The figures cover everyday expenses such as food, transport, utilities and other routine spending.

Uruguay ranked first in Latin America, ahead of Argentina (US$1,311) and Suriname (US$1,291). Chile followed at US$1,188, while Guyana ranked fifth at US$1,084. Peru (US$1,039), Colombia (US$1,008) and Brazil (US$978) completed the list of the region's most expensive countries.

Uruguay's relatively high cost of living reflects its stronger purchasing power, higher wages and comparatively expensive consumer goods and services. The country has consistently ranked among South America's highest-income economies on a per-capita basis, according to World Bank data.

Argentina's position reflects the country's prolonged inflation crisis. Although price controls and exchange-rate fluctuations affect local purchasing power, the cost of everyday goods and services remains high when measured in U.S. dollars over time.

Outside Latin America, Singapore retained its position as the world's most expensive country, with average monthly living costs reaching US$3,840. Switzerland ranked second at US$3,738, followed by Ireland (US$3,187), Qatar (US$3,074) and Luxembourg (US$2,961).

The United States ranked sixth globally at US$2,929, ahead of Australia (US$2,876) and the Netherlands (US$2,759). High housing costs, labour expenses and consumer prices continue to drive living costs in many advanced economies despite differences in tax systems and public services.

Wise notes that living costs vary widely depending on lifestyle, city and household size. Major financial centres such as Singapore, Zurich, Geneva, Dublin and New York generally record substantially higher costs than national averages because of expensive housing and services.

The comparison highlights the significant gap in living expenses between advanced economies and Latin America. Even Uruguay, the region's most expensive country, has an average monthly cost of living less than half that of Singapore.