Israel Named 6th Most Expensive Country In The World For Cost Of Groceries
Israel ranked sixth highest in the world for cost of groceries, according to a new study published by money.co.uk, a free, online comparison service that allows you to compare thousands of financial products. The study analyzed the average cost of a standard trip to the grocery store and compared it to grocery stores in 36 countries around the world.
The study reveals that the average cost of groceries in Israel totals $28.45 per person per week–slightly greater than that of the US, Denmark, Canada, and Austria.
Since the beginning of 2022, Israeli grocery store prices have been rising. According to a report from the Central Bureau of Statistics earlier this year, Israel’s consumer price index (CPI) rose 2.8 percent in 2021 and already increased by an additional 0.1 percent to 2.9 percent this year as of January 30.
Switzerland, known for its higher cost of living, was found to exhibit the highest average weekly grocery cost, clocking in at $48.16 — over ten dollars more expensive than the country with the second most expensive cost of groceries; South Korea at $35.78. On the other end of the spectrum, the cheapest place to buy groceries was found to be Turkey with weekly costs averaging out at a mere $8.95, just ahead of Columbia’s $9.71 average weekly cost.
The study also compared the average weekly cost of groceries to average weekly earnings and revealed that Mexico exhibits the least affordable groceries per capita and the Netherlands exhibits the most affordable grocery prices per capita.
Despite the Netherlands’ higher average grocery cost at $22.28 in comparison to Mexico’s $14.47 figure, Mexico’s average monthly income is just $1,352. The average monthly income in the Netherlands, on the other hand, totals slightly more than $4,900.