Israel: Consumer prices drop in May at a slower pace over May 2014
June 15, 2015
In May, consumer prices rose 0.2% over the previous month, which followed the 0.6% increase seen in April and marked the slowest increase in three months. According to the Central Bureau of Statistics (CBS), May’s reading reflected higher prices for food and housing.
Consumer prices fell 0.4% in May over the same month last year, which was slightly up from the 0.5% drop observed in April. As a result, the average of the annual variation in consumer prices continued the downward trend that began in June 2014, falling from minus 0.2% in April to minus 0.3% in May, thus reaching the lowest level since December 2004. Core consumer prices, which exclude volatile items such as oil and vegetables, rose 0.5% over the same month last year, which was up from the 0.4% increase seen in the previous month.
Author: Dirina Mançellari, Senior Economist