Israel's GDP grows 3.8% in Q3, CPI dropped 0.4% - CBS

Since the beginning of the year, the CPI and the CPI not including energy each increased by 3.5%

By EVE YOUNG DECEMBER 16, 2024 16:06

New Israeli Shekel banknotes and coins are seen in this picture illustration taken November 9, 2021. (photo credit: NIR ELIAS/REUTERS)

Israel's GDP grew by an annualized 3.8% in Q3 of 2024, the Central Bureau of Statistics (CBS) said in its second estimate, released Monday. This is a 0.9% quarterly growth.

This growth is compared to Q2, 2024. When comparing to Q3, 2023, GDP has decreased by 1%.

Compared to Q2, 2024, GDP in the business sector increased by 4.7% annually and 1.2% quarterly, and private consumption increased by 8.4% annually and 2% quarterly.

Looking back to Q3, 2023, business sector GDP has decreased by 3% annually since then, and private consumption has increased by 3.7%.

Price for consumers

The CBS also released on Sunday the consumer price index for November of 2024. Overall, CPI dropped 0.4% in November compared to October 2024.

Fruits and vegetables (credit: INGIMAGE)

Significant price decreases included decreases in fresh fruit and vegetable, prices of which went down 6.6%; transportation, which went down 1.5%; education, culture, and entertainment, which dropped 1.3%; and footwear, which dropped 0.7%.

Significant price increases included clothing, prices of which increased by 1.2%, housing, and miscellaneous, which went up 0.3% each.

The CBS also said that the prices of foreign travel and flights in Israel have dropped 6.8%, and hotels and guesthouse prices have dropped 7.6%.

The bureau also highlighted that the price of private vehicles and maintaining one has increased by 0.4%. Advertisement

Since the beginning of the year, the CPI and CPI not including energy each increased by 3.5%; the CPI not including housing went up 3.4%, and the CPI without fruit and vegetables went up 3.3%.