Watch CBS News

Economist Names Minneapolis 3rd Most Expensive City In North America

MINNEAPOLIS (WCCO) -- A new report ranks the city of lakes at the top of a list once again -- although this one may not inspire much pride.

The Economist released the results of its Worldwide Cost of Living Survey last week, and Minneapolis ranked 26th worldwide and third among the North American cities surveyed. Only New York and Los Angeles beat Minneapolis, with notoriously expensive cities like San Francisco, Washington, Chicago and Seattle just below.

The survey is compiled using the prices of 160 products and services in each city, including, "food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs."

This is the first year a U.S. city hasn't appeared in the top 10, with New York and Los Angeles ranked at 13th and 14th, respectively. The Economist cites a weakening dollar as the chief cause for the American cities' fall.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.