Israel's Consumer Price Index (CPI) rose unexpectedly by only 0.1% in October 2021, the Central Bureau of Statistics reports, well below the analysts' forecast of 0.4%-0.5%. Over the past 12 months, the CPI has risen 2.3% and has risen by 2.6% since the start of the year.
Bank of Israel Governor Prof. Amir Yaron recently said that the expected inflation rate in 2021 would be close to 3% this year
There were significant price rises in October in footwear and clothing (3.6%), culture and entertainment (1.1%) and food (0.9%). There were significant price falls in fresh fruit and vegetables (2.5%) and transport (1.1%).
The housing prices index, which is separate from the CPI, continued to rise in the period August-September, in comparison with July-August, climbing by 0.7%. Housing prices have risen 9.9% over the past 12 months.
Published by Globes, Israel business news - en.globes.co.il - on November 15, 2021.
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