Economist Dan Ben-David has some good news and some bad news for the Israeli consumer. The good news is that local prices aren’t as high compared to other developed countries as has long been thought. The bad news: Even if the gaps aren’t quite so large, prices in Israel are still high.
“Prices in Israel are very high but not nearly as high as the Organization for Economic Cooperation and Development says. In some cases, the situation is totally reversed: Local prices are lower than the OECD average,” says Prof. Ben-David, author of a new study on the subject that was released on Monday.