Here are some comforting news for Ottawans - Ottawa is the least costly city to live in among the five big cities in Canada according to a study released by Mercer consulting. The company annually ranks 200 major cities around the world based on affordability. The rankings include real estate and rent, food, transportation and entertainment.

Toronto bypassed Vancouver and is now the most expensive city to live in in Canada. Vancouver held that title for many years before.

Apparently, the most expensive city in the world this year (2011) is Luanda, Angola and the cheapest city in is Karachi, Pakistan.

PS: No, I don't have the full report. You can buy it from mercer.com