CPI down in July

price gun  photo: Tamar Matzafi

Israel's Consumer Price Index fell 0.3% last month, with housing prices nearing their 2017 peak.

The Consumer Price Index (CPI) fell 0.3% in July, with the clothing and footwear, fresh produce, furnishing of home equipment, and transport items all falling.

From the start of 2019 to the end of July, the CPI rose 0.6%, and in the twelve months to the end of July, the index rose 0.5%.

The housing price index continues to rise. Since the beginning of the year, home prices in Israel have risen 2.5% to their highest level since the peak of August-September 2017, wiping out one of Moshe Kahlon's few successes as minister of finance, namely a modest fall in home prices. The housing index is now just 0.2% shy of its 2017 peak.

Home prices in the May-June period were up 0.8% in comparison with April-May. In comparison with the corresponding period of 2018, prices of new homes fell 2.4%.

The average price of a home, new or secondhand, in the second quarter of this year was NIS 1,563,000, which compares with NIS 1,529,900 in the first quarter.

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

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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price gun  photo: Tamar Matzafi
price gun photo: Tamar Matzafi
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