Home Price Index falls, CPI up 0.1% in Sep

New housing construction  photo: Shutterstock/ASAP Creative

After rising for the past few months, home prices have resumed the falls of earlier this year, while the Consumer Price Index continues to rise negligibly.

Israel's Home Price Index fell 0.3% in July-August after rising 0.3% in June-July, and 0.9% in May-June, the Central Bureau of Statistics reported today. This latest fall will be good news for the Ministry of Finance, which has pledged to halt the rise in home prices over the past decade, which has made it difficult for young people to afford their own home. The Ministry of Finance will be able to take further comfort from the fact that home prices have fallen 1.1% over the past 12 months.

Housing prices in July fell 1.4% in the North, but rose 0.2% in Jerusalem.

The Consumer Price Index (CPI) for September rose 0.1%, as expected. This means prices have risen by 1.2% over the past 12 months. Prices of fresh vegetables rose 5.8% in September while prices of culture and entertainment fell 2.1% and fresh fruit prices fell 1.3%.

Published by Globes, Israel business news - en.globes.co.il - on October 15, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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New housing construction  photo: Shutterstock/ASAP Creative
New housing construction photo: Shutterstock/ASAP Creative
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