Toronto is the city with the highest cost of living in Canada for the second straight year, according to Mercer’s annual rankings released Thursday.
Of the 227 cities ranked across five continents, Queen City ranked 90th globally, down one place from last year.
Vancouver is the second most expensive city in the country, falling eight places to 116th.
Montreal and Ottawa ranked 135th and 137th, respectively, falling 10 and five places respectively in a year, and Calgary, the cheapest Canadian city, fell four places to 145th.
Mercer’s annual survey covers 227 cities around the world and compares the prices of more than 200 products and services, including housing, transportation, food and clothing.
Canadian cities, cheapest in North America
According to the ranking, Canadian cities remain the cheapest in North America, all down from last year.
The most expensive city in North America is New York (6th in the world ranking), followed by Los Angeles (11) and San Francisco (14). All cities in the United States have also gained places since last year, notably Detroit (+27), Houston and Cleveland (both +24).
Other expensive cities in Europe include London (17th globally), Vienna (25th), Amsterdam (28th), Prague (33rd) (which has climbed 27 places since last year) and Helsinki (34th).
The 10 most expensive cities in the world in 2023
1.Hong Kong
2. Singapore
3. Zurich (Switzerland)
4. Geneva (Switzerland)
5. Basel (Switzerland)
6. New York (United States)
7. Bern (Switzerland)
8. Tel Aviv (Israel)
9. Copenhagen (Denmark)
10. Nassau (Bahamas)
The 10 cheapest cities in the world in 2023
218. Tashkent (Uzbekistan)
219. Tunis (Tunisia)
220. Durban (South Africa)
221. Ankara (South Africa)
222. Windhoek (Namibia)
223. Dushanbe (Tajikistan)
224. Bishkek (Kyrgyzstan)
225. Havana (Cuba)
226. Karachi (Pakistan)
227. Islamabad (Pakistan)