The range of forecasts among analysts about the rise in the Consumer Price Index (CPI) in October is especially large ranging from 0.1% to 0.5%. The largest number of analysts forecast that the CPI will rise by 0.2%. The Central Bureau of Statistics will publish the CPI after the Tel Aviv Stock Exchange (TASE) closes on Thursday.
In September the CPI surprised by remaining unchanged, despite predictions by the analysts that it would rise by 0.4%.
Some of the uncertainty over the CPI stems from the housing clause, a main component in the index. Food prices are another unclear factor. Many food companies including Unilever, Jaf-Ora and Osem Investments Ltd. (controlled by Nestle SA (SWX:NESN)) (TASE: OSEM) announced during October that they were putting up prices.
In October the minimum wage was updated by NIS 200 and this was expected to influence price levels. Clothing and footwear prices are also expected to have risen as fashion chains introduced their winter collections.
Published by Globes [online], Israel business news - www.globes-online.com - on November 14, 2012
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