CPI surprises again

The index fell 0.5% in November - analysts had expected no change.

Once more, the Consumer Prices Index (CPI) has sprung a surprise. The CPI fell 0.5% in November to 105.5 points, the Central Bureau of Statistics announced yesterday. Analysts had expected no change in the index.

There were especially steep falls in prices of fresh produce (10.7%), culture and entertainment (1.3%), transport and communications (1.3%), and housing services (0.4%).

Since the beginning of the year, the general CPI and the index without fresh produce have each risen by 1.4%. The index without housing has risen 1%. In the twelve months to November, the CPI rose 1.4%.

The Central Bureau of Statistics also announced that housing prices in transactions carried out in September-October 2012 were 0.5% higher than prices in transaction carried out in August-September 2012 (this statistic is not part of the CPI).

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

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

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