The Consumer Price Index (CPI) rose 0.2% in January 2011, the Central Bureau of Statistics reported today, compared with analysts' expectations of a fall of up to 0.1%. Inflation for the past 12 months is 3.6%, well above the 1-3% price stability target.
The January CPI is the first measurement since it was recalibrated (baseline 100 = 2010).
The biggest increase - 6.6% - was in the price of fuel and oil, partly because of the government's excise hike, since rescinded. The housing item (rent), whose weight in the index was raised to 24.3% from 21%, rose by 0.3%. The price of fruit rose by 4.3%, transportation (including government-controlled public transport) by 2.1%, and meat and poultry by 1.2%.
The rises were partly offset by a 7% drop in clothing prices and a 5% drop in footwear prices. Prices for pharmaceuticals fell 2.7%, and for recreation by 6%.
Published by Globes [online], Israel business news - www.globes-online.com - on February 15, 2011
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