JERUSALEM, Feb 13 (Reuters) - Housing remains the
highest household expense for Israelis and has risen as a
proportion of total costs, the Central Bureau of Statistics said
on Monday in an updated basket of the consumer price index.
Starting with the January CPI that will be issued on
Wednesday at 18.30 pm (1630 GMT), housing will have a new weight
of 26% in the basket, up from 24.7% two years ago.
The rise in housing costs as a larger percentage of
household costs comes as the weight of transportation and
telecoms dips to 17.5% from 18.4%, while food is now 18.3% of
the basket, up from 17.9%.
Along with high living costs, inflation in Israel was at a
14-year high of 5.3% in 2022.
In a bid to move inflation back to a 1%-3% target, the Bank
of Israel has sharply raised its benchmark interest rate to 3.75% from 0.1% in April. Central bank officials
have said they expect the rate to reach at least 4% in coming
months.
The next decision is on Feb. 20.
(Reporting by Steven Scheer; Editing by Nick Macfie)
Messaging: steven.scheer.thomsonreuters.com@reuters.net;
Twitter: @StevenMScheer))
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