Prices fall for the 4th month in a row
The February consumer price index was down 0.1%. Since October 2008, inflation has now become a negative 1.3%.
Prices are still dropping: The February consumer price index was down 0.1%. Since October 2008, inflation has now become a negative 1.3%.
The CPI has fallen 0.6% so far this year, the Central Bureau of Statistics announced yesterday, though over the past 12 months inflation was 3.4%.
The inflation target for the government and Bank of Israel this year is still 1-3%, but for the period of the last five months the annual rate has been 0.3%. This was the fourth month in a row that the CPI fell.
The biggest drops in February prices came for shoes and clothing, 8.8%, and fresh vegetables, down 5.5%. Tomatoes fell 20.6% in price; lemons were down 12%.
On the up side, prices of fresh fruit rose 5.6%, and housing and health costs both rose 0.5%.
Food costs also increased 0.5% last month. The things that cost you much more include strawberries, up 57% compared to last year, and bananas, up 6.8%.
Internet costs rose 2.3%, while overseas vacations fell 3.5% in price.