The rate of inflation has slowed and housing prices have decreased, according to CBS data released on Friday. Finance Minister Bezalel Smotrich has responded, stating that “we are beginning to see the light at the end of the tunnel.” The minister emphasized the importance of the fight against inflation and the cost of living, and their efforts to maintain the value of money in the state budget and agreements with the Histadrut. The decrease in inflation and housing prices is a positive indication that their policies are having an impact, Smotrich added. Their next challenge is to continue with construction efforts despite higher interest rates, and they have plans and solutions in place to do so. Smotrich concluded by stating that they will continue working towards dismantling monopolies and promoting a free and competitive economy.
According to the CBS data published today (Friday), there is a slowdown in the rate of inflation and a decrease in housing prices. Finance Minister Bezalel Smotrich said in response that “we are beginning to see the light at the end of the tunnel.”
The minister also said: “We win with the right work. The cost of living is not destiny! Inflation is the most difficult tax imposed on the citizens of Israel and the fight against it is the most important fight against the cost of living for the citizens of Israel.
Since I took office, I have made it a top goal to hedge inflation and maintain the value of money. This is what accompanied me and the professionals in my office when building the state budget, when signing the conservative agreement with the Histadrut, and more. Maintaining the value of money means easing the cost of living for every citizen in Israel.
The slowdown that we are beginning to see in the rate of inflation, together with the decrease in housing prices that is made possible thanks to the increase in supply by maintaining construction starts despite the increase in interest rates, are first and foremost important news and have one meaning – the responsible policy that we have put in place is beginning to bear fruit, God willing.
Our big challenge now in the housing sector is to continue the pace of construction starts in the high interest rate environment and we are preparing for this with a variety of plans and solutions in the budget and the Settlements Law.
It is a responsible fiscal policy coordinated with the Bank of Israel’s monetary policy that, with God’s help, will lead to curbing inflation and creating the conditions to lower interest rates and ease the cost of living for the citizens of Israel.
Citizens of Israel, this is just the beginning. Dismantling monopolies, deregulation and a persistent fight against the cost of living through a free and competitive economy are goals we have set and with God’s help we will achieve them in the coming period for the sake of the citizens of Israel and the economy of Israel. We work for you.’