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Toronto, Montreal ranked among the world's top 20 most expensive cities

Proud citizens in both Toronto and Montreal have often said that their city is in a class of its own. And, on Wednesday at least, that class is the world's most expensive cities.

According to a new study by UBS AG, Toronto and Montreal rank among the world's 20 priciest cities – Toronto at 9th most expensive and Montreal at 17th.

The study looked at price levels, wage levels and domestic purchasing power in 73 cities.

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On UBS' wage rankings, Toronto sits at 14th and Montreal at 15th. And in terms of domestic purchasing power, Montreal ranks 11th and Toronto 15th.

According to UBS, the other top 10 most expensive cities are (#1) Oslo, (#2) Zurich, (#3) Geneva, (#4) Copenhagen, (#5) Stockholm, (#6) Tokyo, (#7) Sydney, (#8) Helsinki, and (#10) Singapore.

Vancouver was not among the cities UBS surveyed.

Read the full report here.

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