Today: 26 April 2025
16 August 2023
1 min read

Israel’s year on year inflation falls to 3.3% in July

Home prices in Israel decreased in May-June by 0.2 pe rcent compared to April-May…reports Asian Lite News

Israel’s year-on-year 12-month inflation decreased to 3.3 per cent in July, the lowest rate since January last year, according to data released by the country’s Central Bureau of Statistics.

The 12-month figure soared to 5.4 per cent in January 2023, the highest in over 14 years, but has since gradually declined, Xinhua news agency reported citing the bureau data.

A gradual increase of the base interest rate by Israel’s central bank, from 0.1 per cent in April 2022 to 4.75 per cent in May 2023, helped curb inflation.

Accordingly, the bank decided in July to keep the interest rate unchanged, after 10 consecutive raises.

On a monthly basis, Israel’s consumer price index rose by 0.3 per cent in July compared to June, with the prices of fresh fruits and vegetables recording a 3.4 per cent increase.

Home prices in Israel decreased in May-June by 0.2 pe rcent compared to April-May.

This was the third consecutive decrease after rising for nearly three years.

Annually, Israel’s home prices in May-June 2023 increased by 5.2 per cent compared to the same months in 2022, the lowest annual increase in 2.5 years.

ALSO READ-Inflation concerns shake Fed’s rate plans in US

Previous Story

Mahindra’s new electric SUV: vision Thar.e breaks cover

Next Story

Brazil, UAE seek to deepen trade, investment ties

Latest from -Top News

Sikh Community Pays Rich Tributes to Pope 

UAE Sikh community mourns Pope Francis, honoring him as a global symbol of faith and compassion…reports Asian Lite News The Sikh community of the United Arab Emirates extends heartfelt condolences on the

India Praises UAE’s Global AI Benchmark 

Kaustubh Dhavse, Maharashtra CM’s OSD, hailed the UAE’s AI model as a global benchmark driving digital innovation and attracting global talent…reports Asia Lite News Kaustubh Dhavse, Joint Secretary and Officer on Special

Azad Moopen Pays Tribute to Pope Francis 

Dr. Moopen also noted Pope Francis’ historic 2019 visit to the UAE, a landmark moment in fostering interfaith dialogue and tolerance…reports Asian Lite News Dr. Azad Moopen, Founder Chairman of Aster DM
Go toTop

Don't Miss

Iran to Face Consequences: Israel

The IDF Chief further said that the “Iron Shield” had

US House Passes Bill to Resume Arms Deliveries to Israel

The US is currently withholding a delivery of ammunition due