Israel: Consumer prices fall at the previous month's pace
April 16, 2015
In March, consumer prices rose 0.3% over the previous month, which contrasted the 0.7% drop tallied in February and marked the fastest increase since March 2014. According to the Central Bureau of Statistics (CBS), March’s reading reflected higher prices for food and housing.
Consumer prices fell 1.0% in March over the same month last year, thus matching February’s result, which had marked the steepest fall in over seven years. As a result of March’s decline, the average of the annual variation in consumer prices continued the downward trend that began in June 2014, falling from plus 0.1% in February to minus 0.1% in March, thus reaching the lowest level since September 2007. Core consumer prices, which exclude volatile items such as oil and vegetables, fell 0.2% over the same month last year, which was below the flat reading seen in the previous month.
Author: Dirina Mançellari, Senior Economist