Energy that affected price increases - inflation - all over the world and an increase in real estate prices. The two influencers that made 2022 too expensive (Photo: ShutterStock)
The consumer price index for the month of December 2022 increased by 0.3%, which means an increase of 5.3% in 2022, the highest annual figure in twenty years.
What raised the index last month were transportation prices which increased by 1.1%, housing and medical services which became more expensive by 0.6%.
On the other hand, notable decreases were recorded in the prices of fruits and vegetables, which decreased by 2.8%, culture and entertainment decreased by 1.4%, footwear and clothing - a decrease of 1% and home equipment, whose price was reduced by 0.7%.
Although the rent increased "only" by 0.4%, many tenants whose contracts end with the calendar year and asked to renew them, suffered an average price increase of 4.4%.
Former Minister of Finance, Avigdor Lieberman.
The index summarizes a full year that was entirely under his tenure (Photo: Flash 90, Yonatan Zindel)
The December index, the last for 2022, is also the last of the previous government, the "Government of Change" and provides an annual view not only of the year that ended but also of the government, that 2022 was the year in which it had full control over the economy in Israel - from setting the state budget to trying to fight in the cost of living.
At this point, apparently, no agreement will be reached between the political opponents: those who want to see the glass half full will say that, relative to the world, the Israeli economy is in excellent condition, with a low inflation rate compared to the reference countries and a low unemployment rate - and with reforms whose achievements will only be seen in the coming months.
We will also note the budget surplus that the outgoing government bequeathed to the incoming one, unlike what we were used to in previous governments.
Critics of the government will argue that it has failed to address the cost of living, especially when considering the housing prices that have made the dream of an apartment impossible for many young people in Israel.
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Housing prices