Is the cost of living in Monaco high?

"The cost of living in Monaco is generally high, with prices for goods and services being higher than in many other countries. Monaco is known for its luxury lifestyle, and this is reflected in the cost of living. Renting an apartment in Monaco can be expensive, with a nice 1 bedroom apartment costing around $2,000 USD per month and a nice 2 bedroom apartment costing around $3,500 USD per month. Eating out in Monaco can also be expensive, with a dinner at a moderately priced restaurant costing around $50 USD per person. Generally, the more central areas of Monaco tend to have a higher cost of living than the more suburban areas," mentioned another expat when asked about moving to Monaco.