New cost-of-living study finds that Montreal is now more expensive than Toronto

A new study by EIU has assessed the most expensive cities in North America and around the world, with Montreal now cited as being more expensive than Toronto. 

The study, which ranks 173 cities worldwide on the cost of over 200 products and services, found Montreal to be the 25th most expensive city in North America, with a score of 64 in the cost-of-living index, followed by Calgary in 26th and Toronto in 27th. 

The most expensive cities in North America are New York City (100 in the cost-of-living index), Los Angeles (97) and San Francisco (86).

“The latest cost-of-living survey by EIU confirms that inflation remains high worldwide: the prices of 200 products and services that it tracks rose by an average of 7.4% over the past year. This is down slightly from 8.1% in 2022, but remains well above the average of 2.9% over the previous five years.”

The five most expensive cities in the world were found to be Zurich and Singapore (tied at 104), New York City and Geneva (tied at 100) and Hong Kong (98).

Do you live in the world’s most expensive city? https://t.co/V79v2z6VDF 👇

— The Economist (@TheEconomist) July 20, 2024

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