عربي
Palestinian Central Bureau of Statistics (PCBS)
Sharp increase in the Consumer Price Index (CPI) in Palestine during 2023
by 5.87% compared with 2022
The overall CPI for Palestine during 2023 Recorded a sharp Increase by 5.87% compared with 2022 (10.53% in Gaza Strip, 4.77% in the West Bank**, and by 4.05% in Jerusalem J1*).
The Consumer Price Index recorded an increase over the past three years to reach 11%
The Israeli aggression on Gaza Strip during the last quarter of 2023 had the greatest impact on the rise of consumer prices to record a sharp increase of 5.87% in Palestine in 2023. In addition; the Ukrainian-Russian war negatively affected the prices of imported goods, especially corn oil, sugar and flour, and thus the Consumer Price Index increased by 3.74% during 2022, while the Palestinian economy had not yet recovered from the repercussions of the COVID-19 pandemic, where Consumer prices increased by 1.24% during 2021, and accordingly, the Palestinian Consumer Price Index increased by 11% in the past three years, which led to a decline in the purchasing power by 10% and thus a sharp erosion in the salaries and wages of Palestinian households.
The changes in Palestinian CPI for 2023 were traced back to changes in prices of the following expenditure major and sub groups compared with previous year:
|
Major and Sub Groups |
%Change |
|
Food and Non-Alcoholic Beverages |
+ 6.34% |
|
Potatoes and Other Tubers |
+ 37.06% |
|
Dried Vegetables |
+32.69% |
|
Eggs |
+ 33.99% |
|
Other Sugar and Sugar Substitutes |
+ 22.08% |
|
Flour of Cereals "White Flour" |
+ 13.07% |
|
Rice |
+ 10.04% |
|
Fresh Vegetables |
+ 7.34% |
|
Fresh Fruit |
+ 6.05% |
|
Fresh Chicken |
+ 6.01% |
|
Bread |
+ 5.67% |
|
Fresh Meat |
+ 5.45% |
|
Vegetable Oil |
+ 3.88% |
|
Transport |
+ 10.09% |
|
Passenger transport by road |
+ 18.72% |
|
Liquid Fuel for Car "Petrol" |
+ 5.83% |
|
Liquid Fuel for Car "Diesel" |
+ 5.44% |
|
Housing, Water, Electricity, Gas and Other Fuels |
+ 5.53% |
|
Gas |
+ 20.31% |
|
Liquid fuels |
+ 9.41% |
|
Electricity Tariff |
+ 3.25% |
|
Alcholoic Beverages, Tobacco and Narcotics |
+ 7.10% |
|
Cigarettes |
+ 7.29% |
Consumer Price Index increased by 126% in 1996 and up to 2023; an increase of 1,261 NIS/1,000 NIS of the monthly wages. So, if it is calculated since 2004, the CPI increased by 60%; an increase of 602 NIS/1,000 NIS of the monthly wages, it should be noted that the erosion of wages and salaries reached about 45% from 2008 to 2023 due to continuous increases in prices over the past years.
Yearly percent changes in Consumer price index in Palestine for: 2007 – 2023
Monthly percent changes in Consumer price index in Palestine
for the months of 2023
Notes:
*Data represent those parts of Jerusalem, which were annexed by Israeli Occupation in 1967.
**Data exclude those parts of Jerusalem, which were annexed by Israeli Occupation in 1967.
The prices of goods and services were collected in New Israeli Shekels (NIS). The yearly average exchange rate of the US Dollar during 2023 is (3.68 NIS/$).
Please note that the press release in English is brief compared to the Arabic version