Australia ranked 23rd in terms of IPB while New Zealand trailed behind at 49th. Monaco took first spot in this category.

The ICT price basket is a composite basket includes three tariff sets, referred to as sub-baskets: fixed-telephony, mobile-cellular telephony and fixed-broadband Internet services.

Globally, ICT prices have fallen steadily particularly in terms of fixed-broadband prices which was slashed by half over the past two years.

But the ITU still saw broadband as too expensive in many developing countries.

"Countries without affordable broadband access run the risk of falling behind in the global information society and I hope this report will prompt policy makers to look into ways of lowering ICT prices," ITU Telecommunication Development Bureau (BDT) director, Brahima Sanou, said in a statement.