CPI surprises with fall of 0.3% in July
Market expectations had been for a 0.3% rise but price falls in six of the ten major product categories dragged the index down.
The fall in seasonal products that most affected the CPI in July was clothing and footwear, which fell by more than 8%. Fresh fruit and vegetables fell by 0.6%.
In the public products sector, (prices over which the government has an influence) - fuel fell by 3% and water fell by 4.7%. Dairy products, a target of the cottage cheese protests, fell by 2%.
Apartment maintenance prices fell by 0.7%, and food fell 0.6%.
On the other hand, the housing category rose by 0.4%.
Inflation over the past 12 months is now 3.4%, and is moving closer towards the upper limit of the government's target. Inflation in the first seven months of 2011 stands at 1.9%.
Published by Globes, Israel business news - www.globes-online.com - on August 15, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
- Tel Aviv market report
- Tel Aviv Stock Exchange
- Israeli stocks in NY
- Arbitrage gaps for dual-listed stocks
- Israeli stocks in Europe
- Israeli stocks on other markets
- Tel Aviv 25 options
- Mutual funds
- Current representative shekel rates
- Historical representative shekel rates
- Bank shekel rates
- Shekel/dollar options