Israel’s Consumer Price Index (CPI) fell 0.3% in December, more than expected with analysts predicting a 0.1% fall, after the CPI fell 0.4% in November. In the twelve months to the end of 2024, the rate of inflation fell to 3.2%, from 3.4% at the end of November, according to figures released by the Central Bureau of Statistics today. However, inflation ended 2024 just above the upper limit of the Bank of Israel's annual target range of 3%.
Prominent price falls in December included fresh fruit and vegetables, which fell 5.6%, culture and entertainment fell 2%, and footwear and transport each fell 0.8%.
Prominent price rises in December included clothing, which rose 1.9%, health rose 0.4%, housing maintenance rose 0.3%, and food rose 0.2%.
The Central Bureau of Statistics has also published the change in home prices (which are not part of the general CPI) between September-October 2024 and October-November 2024. On average, prices rose 0.6%, after rising 0.5% the previous month. In the breakdown by region, prices rose by 0.4% in Jerusalem, 0.4% in the north, 0.3% in Haifa, 0.4% in the center, rose 1.2% in Tel Aviv, and 0.2% in the south. Prices of new apartments were unchanged.
In the comparison between October-November 2024 and October-November 2023, the index of housing prices rose 7.8%. In the breakdown by region, prices rose by 11.7% in Haifa, 10.2% in the north, 7.9% in the central region, 8.8% in Tel Aviv, 5.2% in the south, and 0.6% in Jerusalem. Prices of new apartments have risen by 4.2% over the past year.
Published by Globes, Israel business news - en.globes.co.il - on January 15, 2025.
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