Israel had highest cost of living in OECD in 2022

Israel has the highest cost of living among all OECD nations, but the comparison to the OECD average is misleading due to the strengthening of the shekel, and next year's numbers are likely to look better due to the shekel's devaluation, which will make prices appear lower in international currencies. The real issue lies in the affordability of consumption baskets relative to median incomes and the neglect of vital infrastructure, such as education and transportation, which contribute to low incomes and high prices. The State Comptroller report highlights the escalating cost of living in crucial sectors like the dairy industry and the real estate market, with significant price increases and housing shortages.

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8/27/2023

Israel named OECD country with highest cost of living in 2022 - I24NEWS

Israel was named the OECD country with the highest cost of living in 2022, with prices 38 percent higher than the average for OECD countries. However, in a more recent monthly study, Israel fell to fourth place in terms of the cost of living.

8/27/2023

Israel tops OECD's most expensive countries to live in

Israel's high cost of living, which surpassed Switzerland, can be attributed to the balance of payments and influx of foreign currency in the high-tech sector, according to a Hebrew University expert.

9/5/2023

Israeli shekel sees 10.34% decline vs. USD since 2023 - new research

Despite the Israeli shekel being the currency that has weakened the most since the COVID-19 pandemic, Finance Minister Bezalel Smotrich claims that the Israeli economy is showing resilience and stability. However, recent data suggests that Israel's economy is struggling to improve, with slow economic growth and decreased consumer spending. The government's pursuit of judicial reform is also causing concern among international credit rating agencies.

9/15/2023

Israeli Inflation Rises Again in August, Prompting Concerns Over Judicial Changes

Israel's annual inflation increased to 4.1% in August, surpassing the central bank's target range of 1%-3%, as consumer prices rose by 0.5%, driven by increases in the cost of fresh vegetables, culture and entertainment, transportation, and housing.

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Posted 8/27/2023, 1:15:00 PM

Israel had highest cost of living in OECD in 2022

jpost.com

Relevant topic timeline:

8/27/2023

Israel named OECD country with highest cost of living in 2022 - I24NEWS

8/27/2023

Israel tops OECD's most expensive countries to live in

9/5/2023

Israeli shekel sees 10.34% decline vs. USD since 2023 - new research

9/15/2023

Israeli Inflation Rises Again in August, Prompting Concerns Over Judicial Changes