Prices Rise
Once Again
The rate of inflation in Israel has
stabilized, but prices still went
up by 1.1 percent last month.
The increase in the consumer
price index (CPI) was identical to
the preceding two indexes. It was
the seventh consecutive CPI in-
crease of over 1 percent.
Central Bureau of Statistics
price division head Rahamim
Ozama said that, based on the
past nine months, inflation is run-
ning at 14.5 percent annually.
Consumption
Fuels Inflation
Consumption in Israel expand-
ed nearly three times faster than
the economy's productive capac-
ity during the first half of the
year, contributing to a worrisome
rise in inflation, the Bank of Is-
rael's research division reported.
The Gross Domestic Product
(GDP) is estimated to have in-
creased 5 percent during the first
half of the year, compared to the
previous six months, while con-
sumption jumped 14.5 percent.
According to the central bank,
the rapid growth of private and
government consumption, to-
gether with expansion of available
credit to the public and the gen-
erous public sector wage agree-
ment, stoked prices upward.
Credit Line
Is Shortened
The Israeli government has
agreed to provide only a $10 mil-
lion annual credit line to Ukraine.
The decision was made despite
Industry and Trade Minister
Micha Harish's request for sig-
nificantly larger credit guaran-
tees for trade with CIS republics
and Asian countries than cur-
rently allotted by the Israel For-
eign Trade Risk Insurance Co.
(IFTRIC).
Mr. Hanish argued at a meet-
ing with Prime Minister Yitzhak
Rabin, Foreign Minister Shimon
Peres and Finance Minister
Avraham Shohat that although
the added credit would exceed
the IFTRIC's risk criteria, it
would serve national and eco-
nomic interests.
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Trade Deficit
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The Israeli trade deficit, exclud-
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cent, or $1.4 billion, during the
first nine months of the year to
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