Israeli annual CPI hits 20-year-high of 5.3 pct

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Israeli annual CPI hits 20-year-high of 5.3 pct

STORY: Israeli annual CPI hits 20-year-high of 5.3 pct DATELINE: Jan. 17, 2023 LENGTH: 00:01:20 LOCATION: Jerusalem CATEGORY: ECONOMY SHOTLIST: 1. various of Jerusalem streets 2. various of Prof. Amir Yaron announcing rate increase in October 3. various of people in the streets 4. various of construction 5. various of people in the streets STORYLINE: The consumer price index (CPI) in Israel rose by 5.3 percent in 2022, according to data issued by the Central Bureau of Statistics on Sunday, the highest calendar-year level since 2002 when the annual inflation rate was 6.5 percent. This is a sharp rise from 2020 which recorded a deflation of 0.7 percent and 2021 when the annual CPI was 2.8 percent. Inflation is continuing to rise even though the Israeli central bank has gradually raised the base interest rate from 0.1 percent in April 2022 to 3.75 percent at present. "The global shortage of raw materials continued, and demand still exceeds supply, so even the sharp interest increase still does not

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