CPI up 0.1% in May

The rise is less than analysts had predicted. Prices of cigarettes and electricity rose steeply.

The Consumer Prices Index (CPI) rose 0.1% in May, the Central Bureau of Statistics reported today. Analysts had expected a rise of 0.3-0.4%.

Notable price rises were recorded in fresh fruit (6.0%), culture and entertainment (1%), home maintenance (0.9%), housing (0.3%), and health (0.3%).

Price declines were recorded in fresh vegetables (4.4%), transport and telecommunications (1.1%), and food (0.2%).

The price of cigarettes rose 12.2%, because of higher taxation, and domestic electricity rose by 3.1%. On the other hand, fuels and oils prices fell 4.1%, and mobile telephony services fell 2.1%.

Since the beginning of 2013, the CPI has risen by 0.5%. The index excluding energy prices has risen 0.7%; and index excluding fresh produce has risen by 0.3%; and the index excluding housing has risen by 0.2%.

In the twelve months to the end of May 2013, the general CPI and the index excluding fresh produce both rose by 0.9%.

The Central Bureau of Statistics also reports that a comparison of deals in the housing market carried out in March-April 2013 with deals carried out in February-March 2013 shows home prices falling by 0.1% (this figure does not form part of the CPI).

Published by Globes [online], Israel business news - www.globes-online.com - on June 14, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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