In update of CPI, Israelis spend less on housing, more on transport

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Reuters JERUSALEM
Last Updated : Jan 28 2019 | 6:26 PM IST

JERUSALEM (Reuters) - Israelis spend less each month on housing and more on food, transportation and telecommunications, the Central Bureau of Statistics said on Monday.

In its bi-annual update of the consumer price index, housing dipped to 24.1 percent in consumers' monthly spending basket from 25.0 percent in the prior update two years ago.

Food, including volatile fresh produce, rose to 17.5 percent from 16.7 percent, while transportation and telecoms gained one percentage point to 20.3 percent.

The new weightings will go into effect with the January CPI.

The bureau noted that consumers on average spend 16,204 shekels ($4,406.97) a month excluding taxes and contributions.

Israel's inflation rate rose to 0.8 percent in 2018 from 0.4 percent in 2017.

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($1 = 3.6769 shekels)

(Reporting by Steven Scheer; Editing by Tova Cohen)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Jan 28 2019 | 6:12 PM IST

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