Israel CPI Rises 0.3% in July as New-Lease Rents Jump 4.7%
Updated
Updated · The Jerusalem Post · Aug 15
Israel CPI Rises 0.3% in July as New-Lease Rents Jump 4.7%
1 articles · Updated · The Jerusalem Post · Aug 15
Summary
Annual inflation reached 1.5% after Israel’s consumer price index rose 0.3% in July from June, the latest sign that summer demand and housing costs are keeping prices firm.
Transportation prices climbed 1.4% and culture and entertainment 1.1%, while clothing and footwear fell 4.6% and fresh fruit and vegetables dropped 3.5%.
Rental costs kept rising, with lease renewals up 2.6% and rents for new tenants up a steeper 4.7%, underscoring housing pressure inside the CPI basket.
Factory-gate prices moved the other way: the domestic manufacturing output price index fell 1.2% in July on a 12% drop in refined petroleum products, and was flat excluding fuels.
Home prices rose 0.1% in May-June from the prior two-month period but were down 1.5% from a year earlier, even as the average nationwide home price reached NIS 2.435 million in the second quarter.