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August CPI reading down more than expected

Supermarket credit: Shutterstock
Supermarket credit: Shutterstock
15 Sep, 2022 18:46

Israel's CPI fell by 0.3% in August, and the twelve-month inflation rate moderated to 4.6%.

Israel's Consumer Price Index (CPI)  fell by 0.3% in August, the Central Bureau of Statistics reported this evening. Analysts had expected a fall, but the actual decline was more than expected.

The rate of inflation for the twelve months to the end of August was 4.6%, down from 5.2% for the twelve months to the end of July.

The main contributor the the fall in the CPI in August was a 17.7% decline in fuel prices, which took 0.6% off the general index. The transport item fell 3.7% as a result.

The home rental item rose by 0.6%, but for the 15% of tenants renewing leases this year, rents have risen by 3.5%.

Home prices, which are not included in the CPI, rose by 1.9% in June-July in comparison with May-June, completing an 18% year-on-year rise. 

Published by Globes, Israel business news - en.globes.co.il - on September 15, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Supermarket credit: Shutterstock
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