Consumer Price Index Shows Inflation Slowdown, Slight Drop in Housing Prices
Translated & summarized from Kan News by baba
Israel's inflation rate slowed to 1.1% in October as the Consumer Price Index fell by 0.1%. Housing prices experienced a slight decrease of 0.2% in August-September, contributing to a 1.5% annual drop. Significant price hikes were observed in clothing and footwear, while fresh fruit and transportation costs declined.
The story in 5 lines · by baba
- Israel's inflation rate moderated to 1.1% in October following a 0.1% CPI decrease.
- Apartment prices dropped 0.2% in August-September, totaling a 1.5% annual decline.
- Clothing and footwear prices surged 4.1% in October.
- Fresh fruit prices fell 2.8% and transportation costs decreased by 1.4%.
- Rent for new tenants increased by 5.5%.
Israel's Consumer Price Index (CPI) decreased by 0.1% in October compared to September, bringing the inflation rate down to 1.1%, a half-percent moderation. The Central Bureau of Statistics reported these figures on Sunday. Notable price decreases in October were seen in fresh fruit (down 2.8%), transportation (down 1.4%), and owner-occupied housing services (down 0.5%). Conversely, prices rose significantly for clothing and footwear (up 4.1%), fresh vegetables (up 3.5%), apartment maintenance (up 0.4%), and furniture and household equipment (up 0.3%). Rent for contract renewals increased by 2.8%, while new renters saw a 5.5% rise. In the housing market, apartment prices fell by 0.2% in August-September compared to July-August, marking a total annual decrease of 1.5%. Regional variations showed price increases in Haifa (up 0.8%) and the North (up 0.4%), while Tel Aviv saw a 0.8% decrease, the South 0.6%, and the Center 0.2%. Jerusalem prices remained unchanged. In September, the CPI had fallen by 0.5%, though the annual inflation rate had risen slightly to 1.6%, with notable drops in culture/entertainment and transportation, offset by increases in vegetables, education, and rent.
