BRITISH COLUMBIA

Vancouver Most Expensive City To Live In North America: The Economist

02/06/2013 02:12 EST | Updated 05/22/2015 04:59 EDT

Vancouver now holds the dubious title of most expensive city in North America to live in, ahead of New York and Los Angeles, according to rankings by The Economist.

The annual EIU Worldwide Cost of Living Survey that came out this week ranked Vancouver 21st internationally. That's a jump of 16 spots up from its last ranking of 37th.

New York and Los Angeles tied for 27th in this report.

Internationally, Tokyo topped the list — a position it's held for most of the last two decades.

The report ranks cities based on the cost of 160 products and services, such as gas, food, rent and transportation. For example, the average price for a loaf of bread in Tokyo is $9.06 USD, compared to $1.76 in Karachi, Pakistan, which was the least expensive city in the world.

See the top 10 least and most expensive cities below:

2013's Most And Least Expensive Cities To Live In

Top 10 most expensive cities in the world:

  1. Tokyo, Japan
  2. Osaka, Japan
  3. Sydney, Australia
  4. Oslo, Norway
  5. Melbourne, Australia
  6. Singapore
  7. Zurich, Switzerland
  8. Paris, France
  9. Caracas, Venezuela
  10. Geneva, Switzerland

Top 10 least expensive cities in the world:

  1. Karachi, Pakistan
  2. Mumbai, India
  3. New Delhi, India
  4. Kathmandu, Nepal
  5. Algiers, Algeria
  6. Bucharest, Romania
  7. Colombo, Sri Lanka
  8. Panama City, Panama
  9. Jeddah, Saudi Arabia
  10. Tehran, Iran