, also thinks that oil prices need to climb much further to derail the steady decline in headline inflation. “The immediate threat to broader inflation from higher energy prices should not be overstated. Indeed, our analysis shows that energy prices account for only 1.7 per cent of core consumer prices (CPI), meaning that the direct impact of higher oil prices on underlying inflation would be minimal,” he said.

Meanwhile, with Israel having the highest number of startups per capita worldwide, over 220 venture capital funds have signed a letter of support for Israel following the terrorist attack. The statement by the Venture Capitalist stated: “We stand united in our support for the nation of Israel, and we condemn the senseless and barbaric acts of terrorism that have occurred.”

“Israel has been an enduring partner to the global innovation ecosystem, fostering groundbreaking technological advancements and startup innovation. The nation's contribution to the world in terms of technology, research, and entrepreneurship is invaluable, and we hold deep respect for its unwavering commitment to progress,” the VCs added.