CPI falls more than expected

price gun  photo: Tamar Matzafi

Israel's Consumer Price Index fell by 0.4% in January. Home prices have also fallen slightly.

Home prices in Israel have risen 3% within a year and general inflation has fallen to an annual rate of 0.3%, according to figures released by the Central Bureau of Statistics on Friday.

The Consumer Price Index (CPI) fell by 0.4% in January. The decline is more than analysts had expected. Market expectations were for a fall in the CPI of 0.3% in January, although some analysts did see the possibility of a steeper fall because of a decline in clothing and footwear prices, which in fact fell by 6.4% last month. On the other hand, prices of fresh produce rose 3.1%.

In the twelve months to the end of January, the CPI rose 0.3%.

In housing prices (which do not form part of the CPI), a comparison of prices between October-November 2019 and November-December 2019 shows a 0.2% fall. A comparison between November-December 2018 and November-December 2019 shows a 3.0% rise.

A regional breakdown of the comparison between October-November 2019 and November-December 2019 shows falls of 0.4% in the northern and central regions and 0.2% in Jerusalem and Tel Aviv, while in the southern region prices were unchanged, and in Haifa they rose by 0.7%.

A breakdown of the comparison between November-December 2018 and November-December 2019 shows that prices rose in all regions, the largest rises being in Tel Aviv (5.7%), the north (3.8%) and Haifa (1.8%).

Published by Globes, Israel business news - en.globes.co.il - on February 16, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

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