CPI up 0.2% in August, home prices fell

New homes in Rosh Ha'ayin Photo: Yossi Cohen

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Israel's Consumer Price Index rose 0.2% last month, with housing prices falling after months of rises.

The Consumer Price Index (CPI) rose 0.2% in August, the Central Bureau of Statistics reports, slightly higher than the economists' predictions. In the past twelve months to the end of August, the index rose 0.8%, moving closer to the government's 1%-3% annual inflation target range.

Fresh fruit and vegetables led the price rises last month, up 4.2% while culture and entertainment prices rose 2.6%. Clothing prices fell 1.5% last month and telecom prices fell 0.7%.

The housing price index fell after months of rises. Home prices in the June-July period fell 0.3% in comparison with May-June. However, home prices have risen 0.7% over the past year.

Published by Globes, Israel business news - en.globes.co.il - on September 15, 2019