Israel marks sixth yr of virtually no inflation, however home costs proceed to rise – Enterprise



Israel marked its sixth consecutive yr of low or detrimental inflation in 2019. The Central Bureau of Statistics reported on Wednesday that the buyer value index rose simply zero.6% final yr, down from zero.eight% in 2017.

In December 2019, the CPI was unchanged.

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Making an allowance for three years of detrimental inflation in 2014-16, the CPI has risen simply zero.four% since 2013, placing it far under the goal ranges of 1% to three% set by the federal government.

In a yr of in any other case very low inflation, the Might 2019 CPI jumped zero.7% however the next month it fell zero.6%. The largest value rises for the yr got here for attire and sneakers, which rose 5.5%. Costs of contemporary produce and residential furnishings and gear rose by 2.5%.

The housing value index, which accounts for practically 1 / 4 of the entire CPI, climbed 2.1%, accelerating from a 1.9% enhance in 2018.

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By comparability, housing prices, which aren’t included within the CPI and whose information lag behind it, confirmed a zero.5% enhance in costs over October-November versus September-October. Annualized, that labored out to a three.four% rise, its quickest in two years,

When it comes to 12-month value rises for housing, Tel Aviv led with a 5% enhance. The northern district noticed a four.1% enhance, the Jerusalem district a 2.eight% achieve.