For the first time ever, Tel Aviv ranked as the world’s most expensive city to live in by the Economist Intelligence Unit (EIU). The strong Shekel (Israel’s currency) coupled with quickly rising inflation brought Israel’s most famous metropolis to this ranking. Tel Aviv currently outranks Paris and Singapore, both of which came in second. Average prices for commodities have risen 3.5 percent, which is the fastest inflation rate recorded in over five years. This is not good news for an already struggling population, the majority of whom are still reeling from the economic effects of COVID. Please pray that Israel’s sky-high cost of living will come down quickly, especially as inflation sky rockets. Please also pray for wisdom for Israel’s Minister of Finance, Avigdor Lieberman, as he navigates this challenging situation. Lastly, please pray for all the families and individuals who are struggling to provide their basic needs in this expensive economy!
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