(MENAFN- Jordan Times)
AMMAN - Economic activities witnessed a complete collapse in the Gaza Strip, while they recorded a sharp decline in the West Bank, Al-Mamlaka TV reported on Sunday.
Many sectors in the West bank have been affected, while in the Gaza Strip they have completely collapsed, According to the Palestinian Central Bureau of Statistics (PCBS).
The construction activity recorded the highest decline at 98 per cent in Gaza Strip and 38 per cent in the West Bank, reaching $332 million, followed by industrial activity with a decline of 90 per cent in Gaza Strip and 30 per cent in the West Bank, reaching $1,038 million.
The agriculture activity followed with a decline of 91 per cent in the Gaza Strip and 17 per cent in the West Bank, reaching $564 million.
However, services activity decreased by 81 per cent in the Gaza Strip and 17 per cent in the West Bank to reach $6,453 million. The prices of gasoline in Gaza rose sharply by 1032 per cent and cigarettes by 2773 per cent, according to the PCBS.
In the data monitored by Al-Mamlaka TV, the cost of living index during 2024 recorded a sharp increase in the Gaza Strip at levels not seen in the Gaza Strip markets before, due to the 15-month Israeli aggression.
According to the PCBS, inflation in Gaza increased by 238 per cent, and because of this increase, the purchasing power of citizens in Gaza fell by 70 per cent.
Also inflation increased sharply in the West Bank by 53 per cent due to the increase of food prices, while transportation recorded a rise by 32 per cent as well as the prices of diesel used in transportation. The residence, water and electricity increased by 24 per cent.
Dried vegetables increased by 876 per cent, potatoes by 571 per cent, sugar by 534 per cent, fresh vegetables by 436 per cent, eggs by 432 per cent, fresh fruits by 351 per cent, fresh meat by 316 per cent and chicken by 261 per cent.
As for the prices of gasoline, they recorded 1032 per cent increase, diesel prices 377 per cent hike, and the price of imported cigarettes went up by 2773 per cent.
All West Bank cities recorded an increase in inflation levels, led by Jerusalem with an increase of 3.84 per cent, while the West Bank as a whole recorded an increase of 2.48 per cent.
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