The Consumer Prices Index rose 0.5% in August to 106.9 points. The rise was larger than expected; analysts had predicted a 0.3% rise.
The main items contributing to the rise in the CPI in August were fresh fruits and vegetables, which rose 5.2%, and housing, which rose 1.7%. The housing items accounts for about a fifth of the general index. There were also notable rises in the culture and entertainment (1.7%) and the food (0.7%) items.
Falls were recorded in the clothing and footwear (5.3%), furniture (1.7%), and transport (0.3%) items. Automobile fuels and oils fell 0.7%, and overseas travel fell 1.4%.
Inflation since the beginning of the year totals 1.6%. Over the past twelve months, inflation has been 1.8%, within the government's price stability target range of 1-3%. Excluding housing, inflation over the past twelve months has been just 0.7%.
Published by Globes [online], Israel business news - www.globes-online.com - on September 15, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010