"Even tomatoes need a vacation...we are unable to add tomatoes to our food," read notices posted at two Burger King India outlets.
Higher nominal wages indicate continuing inflation within Israel, which could lead to further counter-inflationary action from the Bank of Israel.
According to the BoI’s latest report, judicial reform and inflation rate adjustments are the primary factors that can significantly impact Israel’s risk premium.
A stationary CPI may be a signal that the bank’s efforts to mitigate inflation are working — assuming the shekel and Israel’s political stability don’t crumble.
US consumer prices are expected on Wednesday to show headline inflation slowed to its lowest since early 2021 at 3.1%, down from 9.1% a year earlier.
Bank of Israel governor: "We are still in an environment of great uncertainty."
Israel's aggressive policy-tightening cycle has sparked anger among its citizens as mortgage, loan payments and the cost of living have soared, with inflation staying around 5%.
The first estimate had shown GDP stagnating in the first quarter and Germany skirting a recession. However, it contracted following a contraction in 2022.
A series of Israeli companies and importers have announced significant price hikes in recent weeks.
A cost-of-living crisis sparked by Erdogan's unorthodox economic program over the past 1-1/2 years has eroded his popularity
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