CPI down 0.3% in Dec, housing prices still falling

inflation

Inflation was 0.8% in 2018, while housing prices have fallen 2.3% in the past 12 months, Israel's Central Bureau of Statistics reports.

The Consumer Price Index (CPI) fell 0.3% in December, the Central Bureau of Statistics reported this evening, in the lower range of analysts' predictions. The CPI rose 0.8% in 2018, below the Bank of Israel's annual target range for inflation between 1% and 3%. This was the second successive month that the CPI fell 0.3%, largely due to the fall in oil prices on world markets.

Notable price falls in December included fuel for vehicles (7.1%), accommodation and travel (9.9%) and fresh vegetables (1.2%). Notable price rises included clothing (4.3%) and fresh chickens (1%).

The Central Bureau of Statistics also published the Housing Price Index today for October - November The Index showed the price of the average deal falling 0.4% in October-November compared with September-October. Housing prices have fallen 2.3% over the past 12 months.

Published by Globes [online], Israel business news - en.globes.co.il - on January 15, 2019

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

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