Israel: Decline in consumer prices quickens in December
January 15, 2015
In December, consumer prices posted flat growth compared to the previous month, which was up from the 0.2% drop tallied in November. According to the Central Bureau of Statistics (CBS), December’s reading reflected lower prices for food and household equipment, which were offset by higher prices for clothing and footwear.
Consumer prices fell 0.2% in December over the same month of the previous year, which was below the 0.1% decline registered in November. As a result of December’s decline, annual average inflation continued the downward trend that began in June 2014, inching down to 0.5% in December from November’s 0.6%. Core consumer prices, which exclude volatile items such as oil and vegetables, rose 0.1% year-on-year in December; this mirrored the previous month’s result.
Author: Cecilia Simkievich, Economist