Luxembourg was named the 46th most expensive city in this year’s EIU Worldwide Cost of Living Survey, which is used by corporate relocation services and was published February 13. The Grand Duchy’s capital scored just above New York City and Chicago, tied at 47th place in survey, and was also more expensive than Prague, Reykjavik, St. Petersburg, Toronto, Bogota and Athens.

Luxembourg inched up slightly from 48th most expensive city in last year’s EIU rankings. One factor that accounts for the mild rise “is because the dollar was slightly weaker” than the euro, survey editor Jon Copestake told Delano.

In the current study, Luxembourg was moderately less expensive to live in than

Los Angeles, Montreal, Moscow and Shanghai, all tied at 42nd place, as well as Amsterdam, Lyon and Rio de Janeiro, tied at 39th place, and 38th ranked Düsseldorf.

Zurich took first place and Geneva was third, although the appreciation of the franc was also a contributing factor to Swiss cities’ high rankings, the EIU report said. European cities Frankfurt, Paris and Oslo, Japanese cities Tokyo and Osaka, Australian cities Sydney and Melbourne, and Singapore rounded out the top ten.

The least expensive city in the survey was 131st placed Karachi, where the cost of living is less than half of Luxembourg’s.

Last week Luxembourg’s statistics agency said that consumer prices in January rose 2.9%, down from 3.2% in December. STATEC said the rate of inflation slowed in part because of retailers’ winter sales. However, escalating energy prices continued to drive up the cost of housing, utilities and transport.