Negative inflation is gaining momentum but home prices rose 8% in 2015, the Central Bureau of Statistics reports.
Israel's Consumer Price Index (CPI) fell 0.5% in January, the Central Bureau of Statistics reported this evening, after falling 0.1% in December and 0.4% in November. Analysts had predicted a slightly higher fall of 0.6%. Over the past 12 months, the CPI fell 0.6%.This is well below the government's inflation target range of between 1% and 3%.
Outstanding price rises in January included municipal taxes (1.2%), and tomatoes (5.9%).
At the same time, the Central Bureau of Statistics published the apartment prices index for December, which rose 0.7%, reflecting an 8% rise in home prices in 2015.