Israel’s Consumer Price Index rose 0.2% in August, after continually decreasing in the previous months. Since the beginning of the year, the Consumer Price Index has risen a total of 0.8%, thereby, nearing the minimum inflation rate of 1% projected by the Bank of Israel. A 4.2% rise in the price of fresh fruits and vegetables and a 2.6% increase in the price of entertainment drove the increase in the Index. However, a 1% drop in the price of clothing and a 0.7% drop communications prices limited the overall increase.
In the meantime, the price of apartments decreased by 0.3% in July, compared to prices in May and June. On a year-to-year basis, the increase in the price of apartments in Israel has been 0.7%. In Tel Aviv, apartment prices increased by 1.1%. In the South, there was a 0.5% increase, however, in most of the rest of the country, apartment prices decreased.