Israel: Consumer prices continue to fall in June
July 15, 2015
In June, consumer prices rose 0.3% over the previous month, which followed the 0.2% increase seen in May. According to the Central Bureau of Statistics (CBS), June’s reading reflected higher prices for clothing and footwear.
Consumer prices fell 0.4% in June over the same month last year, which matched May’s reading. As a result, the average of the annual variation in consumer prices continued the downward trend that began in June 2014, falling from minus 0.3% in May to minus 0.4% in June, thus maintaining the lowest level since December 2004. Core consumer prices, which exclude volatile items such as oil and vegetables, rose 0.4% over the same month last year, which was down slightly from the 0.5% increase seen in the previous month.
Author: Dirina Mançellari, Senior Economist