For the first time, New York is in first place in the ranking of the most expensive cities in the world, according to The Economist

The annual list of expensive cities by The Economist Intelligence Unit (EIU) puts two cities in North America and Europe among the most expensive to live.

To create the list, the EIU compares individual prices in 172 cities.

They examine a variety of businesses to understand how much prices have fluctuated.

See if your city is in the ranking.