Create a Python script which takes a list containing items and their prices and calculates the total cost.
[('Bread', 5.99), ('Cheese', 4.99), ('Milk', 2.99)]
total = 0
items_with_price = [('Bread', 5.99), ('Cheese', 4.99), ('Milk', 2.99)]

for item, price in items_with_price:
 total += price

print(f'The total cost is ${total}')