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CPI adds 0.9% in April
Consumer price index continues to climb; inflation rate hits 2.1%
April's consumer price index added 0.9%, noting another climb from March, when it added 0.4%. The past two months represent the first true fluctuations in the CPI, which has been stable for the past six months.
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Significant price hikes were notes in the clothing sector (6.6%) and the housing sector (2.4), while produce prices noted a slight drop of 1.4%.ย
Alongside what is known to be a seasonal increase in the consumer price index, April was also when the new electricity rates โ which added 8.3% โ took effect, prompting a 7.8% hike in power rates for private consumption.ย
Israel's CPI has noted a 1.3% increase since the beginning of the year. The year-on-year inflation rate is currently at 2.1% - midway the government's inflation goals of 1%-3%.ย
Financial analysts told Ynet Wednesday that given the increase in the CPI, Governor of the Bank of Israel Stanley Fischer may choose to raise key interest rates.ย
