Mumbai and New Delhi are among the world's cheapest cities while Tokyo and Osaka-Kobe in Japan continue to remain the most expensive, the annual Economist Intelligence Unit's Worldwide Cost of Living Survey said. The bi-annual survey says New Delhi and Karachi are jointly ranked 120th with just 45 on the index, while Mumbai is ranked 122nd on 44. Other Asian cities like Manila is 123rd on 38, just above the cheapest city, Teheran at 32. As the US dollar continues to weaken, cost of living in New York is cheaper compared to London, which saw the biggest rise, according to the survey.