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Where’s the dollar menu?
The Economist magazine publishes an annual Big Mac Index. In its most recent index, last July, Iceland’s Big Mac was most expensive at $7.61. China’s was least expensive at $1.45.
Israel didn’t make the list (we’re not sure why, as they’ve been serving the Big Mac here since 1993), but if it is included this year, it might find itself offering one of the costliest Big Macs.
A Big Mac in Israel costs 16 shekels, or $4.88, using today’s exchange rate of 3.28 New Israeli Shekels per U.S. Dollar.
If you compare that with last year’s Big Mac index, Israel would rank fifth most expensive.
As the value of the dollar continues to plummet here, the Israeli Big Mac rises. On Friday, the dollar hit an 11-year low against the shekel. (It has reversed course ever so slightly since then.)
Since the beginning of the year, the shekel has gained 15 percent against the dollar, thanks to a robust Israeli economy and the dollar’s worldwide slump.
A Big Mac extra value meal — without the cheese at kosher McDonald’s locations — runs you $9.45.
The other day, I stopped at a McDonald’s and ordered a nine-piece chicken nugget extra value meal. That set me back $14.39.
An extra hot mustard sauce?
That’ll be another 15 cents.
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