CPI unchanged in December, home prices still rising

price gun photo: Tamar Matzafi

Rents resume steep rise

Correction: Israel's Consumer Price Index rose by 0.6% in 2019, well below the government's 1%-3% target range for inflation.

Israel's Consumer Price Index was unchanged in December, the Central Bureau of Statistics reports. The reading is in line with analysts' projections of 0-0.1%. In 2019, the index rose 0.6%, well below the government's 1%-3% annual inflation target range.

"Globes" earlier mistakenly reported a 0.1% December CPI reading.

The CPI excluding energy fell 0.1% in December; the CPI excluding housing fell 0.2%; and the CPI excluding vegetables and fruit rose 0.1%.

Clothing prices rose 1.6% in December, while fresh fruit and vegetable prices fell 3.7% and culture and entertainment prices fell 1.5%.

The housing price index rises are gaining momentum. Home prices in the October-November period rose 0.5% in comparison with September-October. Home prices have risen 3.4% over the past 12 months.

Published by Globes, Israel business news - en.globes.co.il - on January 15, 2020