After three years of negative inflation, there are signs that inflation may be returning to the Bank of Israel's desired target range of 1-3%. The Consumer Price Index (CPI) rose by 0.3% in March, the Central Bureau of Statistics reported this afternoon, and has now risen 0.9% over the past 12 months. The March CPI was higher than the analysts' consensus of a 0.1% rise.
Notable price rises during March were: fashion and footwear (4.9%), housing costs (0.8%) and entertainment and culture (0.1%). Notable price falls included public transport (0.5%).
The Central Bureau of Statistics also published the Home Prices Index for January-February 2017, which showed a slowdown in price rises. Home prices rose a negligible 0.1% in the first two months of the year and have risen 6% over the past 12 months.
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
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