Israel’s annual inflation down 0.8 pct: report

Israel’s annual inflation over the past 12 months decreased by 0.8 percent, reported the state’s Central Bureau of Statistics on Tuesday.

This is much lower than Israel’s government inflation target of 1-3 percent rise.

Since the beginning of 2020, the Israeli inflation has dropped by 0.6 percent, also significantly lower than the target range.

According to the data, Israel’s consumer price index (CPI), a primary indicator of inflation, remained intact in August month on month after a 0.2-percent increase in July.

In August, significant declines were recorded in clothing and footwear, fresh fruits and communications prices, while high increases were recorded in prices of fresh vegetables, as well as culture and entertainment activities.

In June-July, home prices in Israel increased by 0.1 percent compared with the May-June period.

Also, home prices rose by 2.9 percent over the past year, despite governmental plans to halt the continued price increase.