Israel's annual inflation rate rises above 5%

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The October CPI reading was at the upper end of expectations, while housing prices continue to jump.

Israel's Consumer Price Index (CPI) rose by 0.6% in October, the Central Bureau of Statistics reported this evening, at the upper end of analysts' expectations.

The rate of inflation for the twelve months to the end of October has risen to 5.1%, from 4.6% in the twelve months to the end of August.

The main contributor to the rise in the CPI in October was a 4.1% rise in fresh fruit and vegetables, while clothing and footwear rose by 4%, and food rose by 1%, transport prices rose by 0.6%, and home maintenance rose by 0.4%.

Home prices, which are not included in the CPI, rose by 1.1% in August-September in comparison with July-August, completing a 19.8% year-on-year rise. This rise was above analysts' expectations of 0.4%-0.6%.

Published by Globes, Israel business news - en.globes.co.il - on November 15, 2022.