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Israel’s Annual Inflation Hits 5%

Shekel NIS

Israel’s Central Bureau of Statistics (CBS) has released the inflation data for October. The data showed that Israel had a 5.1% rate of inflation for the 12 month period through the end of October 2022, higher than average but still lower than the current rates of inflation in both Europe and the US.

The rate represents a 0.5% increase over the 4.6% increase in the rate of inflation recorded in the 12 month period ending end of August 2022.

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The CBS showed that the Consumer Price Index CPI in Israel increased by 0.6% in October 2022 compared to September 2022. It was 107.6 points compared to 107.0 points in the previous month (base: average 2020 = 100.0 points).

The CPI excluding housing also increased by 0.6% and was 107.3 points.

The CPI excluding vegetables and fruit increased by 0.5% and was 107.6 points and the CPI excluding energy increased by 0.7% and was 107.3 points.

Prices of the following groups increased in particular: fresh vegetables and fruit 4.1%, clothing and footwear 4.0%, food 1.0%, housing and transport 0.6%, each and dwelling maintenance 0.4%.

Prices of the following groups decreased in particular: culture and entertainment 0.9%, furniture and household equipment 0.5% and health 0.3%.

Since the start of the year, the CPI increased by 4.9%. The CPI excluding housing and the CPI excluding energy increased by 4.8%, each and the CPI excluding fruit and vegetables increased 4.7%.

Over the past 12 months (October 2022 compared to October 2021) the CPI increased by 5.1%. The CPI excluding vegetables and fruit also increased by 5.1%, the CPI excluding energy increased by 5.0%, and the CPI excluding housing increased by 4.7%.

In October 2022 the seasonally adjusted CPI increased by 0.4%, and the seasonally adjusted CPI excluding housing and the seasonally adjusted CPI excluding vegetables, fruit, and housing increased by 0.3%, each.

Based on the trend data for the period July 2022 – October 2022, the CBS found that the annual pace of increase in the CPI was 4.3%, the annual pace of increase in the CPI excluding housing, and the annual pace of increase CPI excluding vegetables, fruit and housing was 2.9%, each.

Also, the food price index increased by 1.0%.

The vegetable and fruit price index increased by 3.2%.

The housing price index increased by 0.6%.

The health index decreased by 0.3%.



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