CPI unchanged in September

Analysts had predicted that the VAT hike and higher fuel prices last month would push the Consumer Price Index up by 0.4%.

Koby Yeshayahou and Globes correspondent The Consumer Price Index remained unchanged in September at 106.2 points, the Central Bureau of Statistics reported this evening. This was a major surprise after a panel of analysts polled by "Bloomberg" predicted that the CPI would rise by about 0.4% last month.

Prices were pushed by a 1% rise in VAT from 16% to 17% and a major hike in fuel prices. Items rising in September included fresh vegetables (12.9%), food (0.9%), transport and communications (0.7%), housing maintenance (0.6%), and furniture (0.6%).

This was offset by falls in fresh fruit (7.6%), education, culture and entertainment (3.6%), clothing and footwear (0.9%) and housing services (0.3%).

Since the start of the year, the CPI has risen by 2.1%. The CPI has risen by the same figure over the past 12 months.

Published by Globes [online], Israel business news - www.globes-online.com - on October 15, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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