Israel's Consumer Price Index Rises 0.3% in July as Annual Inflation Drops to 1.5%
Israel's Consumer Price Index (CPI) increased by 0.3% in July 2023. Compared to a 0.4% rise in the same month last year, the annual inflation rate declined to 1.5%. Significant price increases were recorded in transportation (1.4%), culture and entertainment (1.1%), and housing (0.7%). Conversely, notable price decreases occurred in clothing and footwear (4.6%) and fresh fruits and vegetables (3.5%).
Regarding housing prices, the monthly housing price index rose slightly by 0.1% in July, but the annual housing price index fell by 1.5%, continuing a downward trend in home prices over the past year.
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