The Consumer Price Index (CPI) fell by 0.2% to 106.0 points in October, the Israel Central Bureau of Statistics reported this evening. The CPI has risen by 1.9% in the year to date, and by 1.8% in the twelve months to the end of October.
The index excluding housing was flat in October. The housing item (which reflects rents) fell by 0.8%,
The largest rise was in the clothing and footwear item, up 5.5%, while the largest decline was in the fresh produce item, down 2.4%.
The fall in the CPI is a surprise, as analysts had predicted a rise of 0.2%. In September too, inflation was lower than analysts expected.
According to Central Bureau of Statistics trend figures, the rate of inflation is currently running at 1.7%.
Separately, the Cetral Bureau of Statistics reported this evening that home prices rose by an average of just 0.17% in the third quarter. The average price of a home in Israel was NIS 1.132 million in the third quarter, compared with NIS 1.13 million in the second quarter, and NIS 1.109 million inthe first quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on November 15, 2012
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