Food price hikes hurt consumers' confidence
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Israel CCI up 0.1 points in December
Bank Hapoalim-TNS Teleseker report says consumers' confidence hurt mainly by rise in prices for basic products, geopolitical uncertainty
Israel's Consumer Confidence Index (CCI) rose 0.1 points in December, following a rise of 3.1 points in November, Bank Hapoalim and TNS Teleseker say.
"During 2012 there was a slight worsening in consumers' confidence," the report said. "We estimate that consumers' confidence was hurt mainly by the rise in prices for basic products such as fuel and food and from geopolitical uncertainty, mainly revolving around the issue of Iran.
"In contrast, the employment market remained relatively stable and the capital market was characterized by rising prices and these largely offset the (negative) effects."
Israel's economy grew an estimated 3.3% in 2012 after a 4.6% pace in 2011.
