Israel's Consumer Price Index (CPI) fell 0.4% on September, the Central Bureau of Statistics reported this evening. Expectations on the capital market were for a 0.3% fall in the index. In 2015 to date, the CPI has fallen 0.6%. In the past twelve months, it has fallen 0.5%.
The outstanding price falls in September were in culture and entertainment (5.1%), automobile fuels and oils (4.3%), domestic power (3.6%), and fruits (4.7%). The outstanding rises were in cucumbers (52.9%) and tomatoes (57.9%). Poultry and fish rose by about 1%.
The CPI reading was affected by the low number of working days in September because of the incidence of the Jewish holidays.
In August, the CPI fell 0.2%. At the time of the announcement of the Bank of Israel's last interest rate decision, Governor of the Bank of Israel Karnit Flug estimated that tax cuts, abolition of the television license fee, and falls in fuel prices, would have an impact of -0.7% on upcoming CPI readings.
Published by Globes [online], Israel business news - www.globes-online.com - on October 15, 2015
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