Israel's CPI unexpectedly rises in October

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Israel's Consumer Price Index rose 0.1% last month despite the 1% VAT cut; market expectations were for a 0.1% fall.

Israel's Consumer Price Index (CPI) rose 0.1% in October, the Central Bureau of Statistics reported this evening. Expectations on the capital market were for a 0.1% fall in the index, or that it would remain unchanged. In 2015 to date, the CPI has fallen 0.5%. In the past twelve months, it has fallen 0.7%.

The rise in October was also surprising considering that VAT fell from 18% to 17% on the first of October.

The outstanding price rises in October were in tomatoes (39.4%), clothing (2.9%), tourist accommodation (6%), shoes and footwear (4%), non-alcoholic beverages (3.1%), cakes (5.3%), and university fees (0.7%).

The outstanding price falls in October were in overseas flights (3.4%), electrical and household appliances (3.5%), cucumbers (30.4%), cars (1.1%0, and communications (0.8%).

Published by Globes [online], Israel business news - www.globes-online.com - on November 15, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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