Israel: Consumer prices in February mark steepest fall in over seven years
March 15, 2015
In February, consumer prices fell 0.7% over the previous month, which was above the 0.9% drop tallied in January. According to the Central Bureau of Statistics (CBS), February’s reading reflected lower prices for food and housing.
Consumer prices fell 1.0% in February over the same month last year, which was below the 0.5% decline registered in January and marked the sharpest fall since May 2007. As a result of February’s decline, annual average inflation continued the downward trend that began in June 2014, falling from 0.3% in January to 0.1% in February, thus reaching the lowest level since October 2007. Core consumer prices, which exclude volatile items such as oil and vegetables, were flat over the same month last year, which was below the 0.1% increase seen in January.
Author: Cecilia Simkievich, Economist