Israel: Consumer prices drop at a slower pace in April
May 15, 2015
In April, consumer prices rose 0.6% over the previous month, which followed the 0.3% increase seen in March and marked the fastest increase since June 2013. According to the Central Bureau of Statistics (CBS), April’s reading reflected higher prices for food and housing.
Consumer prices fell 0.5% in April over the same month last year, which was up from the 1.0% drop observed in March. As a result, the average of the annual variation in consumer prices continued the downward trend that began in June 2014, falling from minus 0.1% in March to minus 0.2% in April, thus reaching the lowest level since September 2007. Core consumer prices, which exclude volatile items such as oil and vegetables, rose 0.7% over the same month last year, which was up from the 0.1% increase seen in the previous month.
Author: Dirina Mançellari, Senior Economist