Israel’s inflation rate hit 4% in April from the previous year, with a 0.8% monthly increase, the Israeli Bureau of Statistics reported on Sunday.
April’s climb also surpassed the 3.5% increase in March, making it the highest inflation rate since June 2011. The IBS reported that the rise is primarily due to a 5.5% price hike in fresh produce and a 2.8% uptick in clothing.
It is also the third month in a row for the year-on-year consumer price index (CPI) hovering above the Bank of Israel’s target range of 1-3%.
Israel’s home prices in the February-March period showed a 16.3% year-on-year increase. According to the bureau’s data, it is the highest in Israel’s real estate transaction costs in almost 12 years.
Israel’s rapidly growing inflation will hurt the working and lower classes more than anyone else. This means that more Israelis will suffer from food insecurity as a result. This includes newly arrived Ukrainian refugees who now need to find food on Shavuot (Festival of Weeks).
That’s why Colel Chabad is now stepping into high gear.
Colel Chabad is an organization that provides food assistance for Israelis who need it most. The Israeli government relies on this charitable organization to deliver food to the Jewish State’s most downtrodden populace.
But Colel Chabad can only carry out its holy work with the help of private donors.
Can you feed a hungry Israeli family?
If you can, please consider donating to Colel Chabad today.