Israel's cost of living in 2022 was highest in the OECD

(JNS) — Israel last year had the highest cost of living among the 38 member countries in the Organization for Economic Co-operation and Development.

Prices in the Jewish state were 38 percent higher than the OECD average, according to the report released by the Paris-based group. Switzerland was a close second at 37 percent above average followed by Iceland at 32 percent, the United States at 25 percent and Australia at 23 percent.

However, the monthly data for June of this year showed Israel falling to fourth in the cost of living rankings, with Switzerland at No. 1 followed by Iceland and Ir...