CPI up 1%; interest to stay at 0.5%
As expected, the Consumer Price Index rose 1% in April. Contributing to the rise were higher costs of fresh fruit, clothing, footwear, transportation, culture, entertainment, housing and food. Bank of Israel governor Stanley Fischer is expected to leave the base interest rate unchanged for June, at 0.5%. The April index is traditionally one of the highest, due to the Passover holiday. Last year the index rose 1.5% in April. Since the start of the year, the consumer price index has risen by 0.9%. For the wealthiest 20% of Israelis, the index dropped by 0.3%, whereas for the poorest 20% it remained unchanged.
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