The CPI has also fallen 0.2% in 2014 so far, despite the shekel's depreciation and historic low interest rates.
Deflation continues despite the depreciation of the shekel and all-time low interest rates. The Consumer Price Index (CPI) was down 0.2% in November, the Central Bureau of Statistics reported this evening. The CPI is down 0.2% in the first 11 months of 2014 and without the housing costs component it has fallen by 1.3%. Analysts had predicted a 0.3% fall in the CPI so this was not unexpected.
In October the CPI rose by 0.3%.
Notable falls in November were in vehicle fuel (3.6%), due to the fall in oil prices on global markets, fresh vegetables (5.8%), vehicle insurance (2%), and poultry (1.5%.). There were notable rises in housing costs (0.3%), fashion and footwear (2.8%), and cosmetic accessories (2.3%).
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2014
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