The Central Bureau of Statistics,(CBS) reported last week that Consumer price inflation in Israel rose more-than-expected last month.
The increase is said to reflect the increased buying in April due to the Passover holiday. In a report, CBS said that Israeli CPI rose to a seasonally adjusted annual rate of 0.6%, from 0.3% in the prior month.
Analysts had expected Israeli CPI to rise 0.5% last month. According to the CBS there were notable price increases in fresh fruit and vegetables up 7.8%, vacations up 5.5%, clothing and footwear up 5.2%, culture and entertainment up 1.5%, and transport up 0.7%.
Price declines were in furniture and home equipment (0.5%) and health (0.3%). The index excluding housing rose by 0.9%, to 98.8 points. The index excluding energy rose by 0.7% to 100.2 points, and the index excluding fresh fruit and vegetables rose by 0.4%, to 99.3 points.
Nevertheless, despite the positive inflation figures for the past two months, inflation over the past twelve months is negative, at -0.5%, which compares with a government inflation target of 1-3%. Excluding housing, the CPI fell 1.3% in the twelve months to the end of April.