November consumer price index surprises with 0.5% fall, interest rate drop may follow
The major drop was a surprise to analysts.
The consumer price index dropped by 0.5% in November, the Central Bureau of Statistics reported Friday. The major drop was a surprise to analysts. The absence of price pressures strengthens expectations that the Bank of Israel's monetary committee could decide late this month to lower its base interest rate for January from 2.0% to 1.75%.
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