Israel: Consumer prices continue to drop, although at a slower pace
December 16, 2014
In November, consumer prices declined 0.2% over the previous month, which contrasted the 0.3% increase tallied in October and was slightly above the 0.3% decline that the markets had expected. According to the Central Bureau of Statistics (CBS), November’s decrease was mainly driven by lower prices for vegetables and fruits, as well as for transport and communications.
Consumer prices fell 0.1% in November over the same month last year, which was above the 0.3% decline recorded in October. However, annual average inflation continued the downward trend that began in June 2014 and inched down from October’s 0.8% to 0.6% in November. Core consumer prices, which exclude volatile items such as oil and vegetables, rose 0.1% year-on-year in November, which contrasted the 0.2% decline recorded in October.
Author: Cecilia Simkievich, Economist