The Central Bureau of Statistics (CBS) reported last week that deflation is escalating as the Consumer Price Index (CPI) fell by 0.7% in February.
In the past 12 months, the CPI has fallen 1.5%, and is down 1.6% since the start of 2015. According to the CBS there were notable price rises in rents (0.2%), and fresh fruit (4.2%).
Notable price falls in February were in electricity which plunged 9.9% after a government-ordered rate cut, while those for fuel fell 3.2%. Internet and telecom services down 2.7%, Overseas travel -1.9%, and footwear -3.1%.