CPI rises 0.4%

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Inflation over the previous twelve months was near the upper limit of the 1-3% target range.

According to figures released by the Central Bureau of Statistics, the Consumer Price Index (CPI) rose 0.4% in May. The rise was in line with economists' expectations of 0.3-0.4%.

Inflation over the previous twelve months, as measured by the change in the CPI, was 2.8%, near the upper limit of the 1-3% target range.

The CPI has risen 1.2% so far in 2009.

Fresh fruit was the component that contributed the most to the rise in the CPI. The rise in fresh fruit prices added 0.125% to the rise in the CPI.

Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2009