CPI down 0.2% in January as home prices also fall

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CPI up 0.5% in October as housing prices fall

Home prices in Israel fell 1.2% in November and December, the Central Bureau of Statistics reports.

For the first time in years, Israel's Central Bureau of Statistics has reported a fall in apartment prices. The Home Prices Index which was published this evening showed that home prices in November and December were 1.2% lower than in the preceding two months. However, overall home prices rose by 5.9% in 2016.

The Central Bureau of Statistics also published the Consumer Price Index (CPI) for January. The CPI fell 0.2% and has risen just 0.1% over the past 12 months. In January clothing prices fell 9%, footwear prices fell 10%, vehicle insurance fell 6.2% and housing services costs fell 0.8%. Price rises in January included fuel (3.3%) and electricity (3.5%).

Published by Globes [online], Israel business news - www.globes-online.com - on February 15, 2017