Big Mac Index

Israel has reached second place globally in The Economist's Big Mac Index, trailing only Switzerland. The 25% jump in dollar-denominated prices is driven by the strengthening of the shekel to 3 NIS per dollar.

The price of a McDonald's Big Mac in Israel rose from 20 to 23 shekels at the start of the year, which, combined with the strengthening of the shekel, pushed the country to second place in The Economist's index. However, the ranking reflects currency fluctuations and corporate pricing rather than just the overall cost of living.