Israel’s annual inflation down 1.1 pct

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JERUSALEM, July 15 (Xinhua) — Israel’s annual inflation over the past 12 months decreased by 1.1 percent, according to a statement released on Wednesday by the Central Bureau of Statistics.

This is significantly far from the government inflation target of rising by one percent to three percent.

Since the beginning of 2020, the Israeli inflation has dropped by 0.8 percent, also much lower than the target range.

According to the data, Israel’s consumer price index (CPI), a key gauge of inflation, dipped 0.1 percent in June after a 0.3-percent decline in May.

June’s figure was mainly due to decreases in prices of fresh vegetables and fruits, culture and entertainment, and clothing and footwear, despite an increase recorded in transport prices.

In April-May, home prices in Israel declined by 0.7 percent compared with March-April.

However, home prices rose by two percent over the past year, despite governmental plans to halt the continued increase. Enditem

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