Israel’s cost of living the highest among OECD countries in 2022, data shows

Israel has been ranked as the country with the highest cost of living among developed nations in 2022, with prices 38 percent higher than the average in OECD member countries, according to data from the Organization for Economic Cooperation and Development. The high cost of living is attributed to over-concentration in certain sectors, such as food and household goods, and structural problems like housing prices and heavy regulation. The Israeli government has formed a ministerial committee to tackle the issue, but the majority of the public believes that the government's lack of action is to blame.