Nation's capital becomes least expensive city in Canada

by Janet Jones

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Tokyo remains the world's most expensive city, according to the World Cost of Living Rankings 2005/2006', followed by Osaka, according to the latest Cost of Living Survey from Mercer Human Resource Consulting. London moves down one position in the rankings to take third place, followed by Moscow which also drops a place this year. Asuncion in Paraguay is the least expensive city in the survey. With New York as the base city scoring 100 points, Tokyo scores 134.7 and is more than three times costlier than Asuncion, which has an index of 40.3.

New York remains the most expensive city in North America, at 13th position in the rankings (score 100). Other costly cities include Los Angeles ranked 44 (86.7), San Francisco in 50th place (84.9) and Chicago in 52nd position (84.6). Washington DC takes 78th place (77.4).

Winston Salem is the cheapest US city surveyed, ranked 119th (66.6). "Many of the US cities surveyed have fallen in the rankings due to the weakening of the dollar against the Euro, Canadian dollar and Asian Pacific currencies," commented Ms Sepede. Though still relatively inexpensive, Canadian cities continue to move up in the rankings due to the strength of the Canadian dollar. Toronto is the most expensive city and takes 82nd place (76.2) in the rankings, while Ottawa is the least expensive Canadian city and takes 122nd position (66.4).