CPI up 0.3% in October

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The reading is within the range of market estimates. The latest home price figures show a fall, but there are regional variations.

Israel's Consumer Price Index rose 0.3% in October. The October reading rise is at the upper range of market estimates. The rate of inflation since the beginning of the year is minus 0.4%, and for the twelve months to the end of October it is minus 0.8%. Analysts expected a rise in the CPI of 0.1-0.3% in October, following a 0.1% drop in September, which was in line with estimates.

There were significant rises in October in the clothing and footwear item - 3.6%, and in fresh produce - 3.2%.

The home prices index, which is separate from the CPI, fell in the period August-September, in comparison with July-August, by 0.2%, but were still 2.4% higher than in August-September 2019.

In comparison with July-August this year, prices in August-September fell 1.6% in Haifa, 1.2% in Tel Aviv, and 0.2% in the central-southern district. In the northern district, prices rose 2.8%, and they rose 0.7% in Jerusalem. In comparison with the corresponding period in 2019, prices were up 3.7% in the north, 3.1% in Tel Aviv, and 2.6% in Jerusalem.

The average price of an apartment in Israel was NIS 1,531,400 in the third quarter of this year, down from NIS 1,542,500 in the second quarter.

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

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

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