TEL AVIV (Apr. 15)
Israel’s cost-of-living index rose 1.2 percent in March, according to figures released Sunday by the Central Bureau of Statistics.
The less-than-expected increase was attributed to the general economic slowdown.
A 2 percent rise had been forecast by economic experts and the Finance Ministry because of the shekel’s devaluation last month and the I percent hike of the Value Added Tax.
But the economic downturn kept costs from rising. Experts noted that shelves remained fully stocked during the month.