Annual inflation is falling, and housing prices fell for the fifth consecutive month, the Central Bureau of Statistics reports.
Israel’s Consumer Price Index (CPI) fell by 0.1% in September. In the twelve months to the end of September, the index rose by 3.8%, down from 4.1% from the 12 months to the end of August. The figures released by the Central Bureau of Statistics came as a surprise, as analysts had been predicting a 0.1% rise in the CPI in September. The Bank of Israel’s target range for annual inflation is 1-3%.
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There were notable price falls in September in transport, which fell 1.5% last month, and food and in culture and entertainment, which each fell 0.5%. However, there were notable price increases in fresh fruit and vegetables, which rose 4.3%, education, which rose 1.3% and rent, furnishing and household equipment, which each rose 0.5%.
The Central Bureau of Statistics also released figures for home prices, which are not part of the CPI. A comparison of deal prices in July-August 2023 with deals in June-July 2023 shows a fall of 0.4%. Prices have now fallen for the past five consecutive months.
In comparison with June-August 2022, prices in July-August 2023 were 0.8% higher.
Published by Globes, Israel business news – en.globes.co.il – on October 15, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Inflation credit: Tali Bogdanovsky