Israelis spend more on housing - Israel Business, Ynetnews

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Israelis' expenses on housing reach new record Photo: Yaron Brener
Israelis' expenses on housing reach new record Photo: Yaron Brener

Israelis spend more on housing

Housing makes up 25.2% of new household consumption basket compared to 24.4% in previous basket , Central Bureau of Statistics says

Gad Lior
Published: 02.13.13, 08:15 / Israel Business

Israelis' expenses on housing have reached a new record, according to the new household consumption basket published this week, in which the share of housing is the highest – 25.2%, compared to 24.4% in the previous consumption basket.


The share of the transportation and communication increased slightly as well, likely due to the increasing popularity of smartphones, making up 20.6% of the new consumption basket compared to 20.5% of the previous basket.


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The share of food – including fruit and vegetables – dropped slightly, making up 16.5% of the new consumption basket of the consumer price index (CPI), compared to 16.9% of the previous basket.


The Central Bureau of Statistics examines the structure of the consumption basket every other year, making changes in the average consumption basket of the Israeli citizen and family accordingly. The basket accurately represents the composition of expenses in 2010-2011.


Figures regarding the makeup of expenses for families' consumption were obtained through spending surveys conducted among 6,100 households, representing the expenses of some 2.2 million households in Israel.


The surveyed expenses were adjusted to the basic period of the index in the past year, the 2012 average, in accordance with price changes between the periods.


The total expenses included in the index basket, in 2012 prices, amount to an average of NIS 13,984 ($3,775) per household. A decline was recorded in the share of food (fruit and vegetables fell significantly), in clothing and footwear and in education, culture and entertainment, pointing to a worse economic situation compared to previous years.



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