Israel’s Consumer Price Index (CPI) rose 0.5% in October, as expected, after falling 0.2% in September. In the twelve months to the end of October 2024, the inflation rate remains at 3.5%, the same as at the end of September, according to figures released today by the Central Statistics Office. Since the start of 2024, the CPI has increased by 3.9%. Thus, inflation remains well above the upper limit of the 3% annual target range set by the Bank of Israel.
The largest price increases in October include foreign travel, which increased 17.2%, shoes, which increased 2%, clothing, which increased 4%, auto insurance , which increased by 0.9%, and transport, which increased by 1.9%.
The main price declines in October were for hotels, down 4.2%, and vehicle fuel and oil, down 1.8%.
The Central Bureau of Statistics also published the change in house prices (which are not part of the general CPI) between July-August 2024 and August-September 2024. On average, prices fell by 0.1%. . This is the first drop after nine consecutive months of rising prices. In the breakdown by region, prices fell by 0.7% in Jerusalem, but rose by 1.2% in the north, rose by 0.9% in Haifa, fell by 0.7% in the center and fell 0.1% in Tel Aviv and rose 0.4% in the south. Prices of new apartments increased by 0.1%.
In the comparison between August-September 2024 and August-September 2023, the house price index increased by 6.1%. In the breakdown by region, prices increased by 10.8% in Haifa, by 7.2% in the central region, by 6.6% in the north, by 6.3% in the south, by 4.7% in Jerusalem and 3.8% in Tel Aviv. Prices of new apartments have increased by 3% over the past year.
Published by Globes, Israel Business News – fr.globes.co.il – November 15, 2024.
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