search
Front > News

Israel's CPI fell unexpectedly in November

Inflation credit: Tali Bogdanovsky
Inflation credit: Tali Bogdanovsky
15 Dec, 2023 14:29
שלח תגובה במיילMaya Levin

Annual inflation is falling sharply, and housing prices have fallen over 1% in the past year, the Central Bureau of Statistics reports.

Israel’s Consumer Price Index (CPI) fell unexpectedly by 0.3% in November. In the twelve months to the end of November 2023, the index rose by 3.3%, down from 3.7% from the 12 months to the end of October. The figures released by the Central Bureau of Statistics came as a surprise, as analysts had been predicting the CPI had remained unchanged in November, or risen by 0.1%, with annual inflation falling to 3.5%-3.6%. In the 11 months since the start of 2023, prices have risen by 3.1%. 

There were notable price falls in November in fresh fruit, which fell 4.8%, transport (1.2%), footwear (1%), culture and entertainment (0.6%), housing costs (0.4%) and furniture and household equipment (0.3%).

There were notable price rises in fresh vegetables, which rose 0.7% and food (0.5%).

The Central Bureau of Statistics also released figures for home prices, which are not part of the CPI. A comparison of deal prices in August-September 2023 with deals in September-October 2023 shows prices unchanged, in part due to the holidays and then the start of the war, with few deals struck.

A comparison of deal prices in August-September 2023 with deals in September-October 2023 shows prices rose 2.2% in Jerusalem, fell 1.4% in the north, fell 0.3% in Haifa, rose 0.1% in the Central Region, fell 0.5% in Tel Aviv, and rose 1.5% in the south.

A comparison of deal prices in August-September 2023 with deals in September-October 2023 shows prices of new apartments falling 0.4%, while new apartment prices have fallen 3.6% over the 12 months ending September-October 2023.

In the 12 months ending September-October 2023, housing prices in Israel fell 1.3%. In the 12 months ending September-October 2023 housing prices in the Central Region fell 2.9%, housing prices in the south fell 2.3%, in Tel Aviv prices fell 2.2% and in the north prices fell 0.1%. Over this period housing prices rose 3.3% in Jerusalem, rose 2.5% in Haifa, and rose 0.1% in the north.

Published by Globes, Israel business news - en.globes.co.il - on December 15, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Inflation credit: Tali Bogdanovsky
Inflation credit: Tali Bogdanovsky
Tel Aviv Stock Exchange share prices rising credit: Tali Bogdanovsky TASE opens sharply higher after Trump U-turn on tariffs

The pause is being interpreted as a climb down after US President Donald Trump admitted he had made the move to calm the markets.

Ashot Ashkelon credit: Ministry of Defense Up 250%, Ashot Ashkelon wins another Defense Ministry order

The Israeli defense company's share price has risen 250% in the past three years since FIMI Opportunity Funds acquired control.

Liad Agmon credit: Eyal Izhar Insight Partners Liad Agmon steps down as managing partner

Serial entrepreneur Agmon has served as a partner at Insight Partners Israel alongside Daniel Aronovitz who set up the Israel office.

Shekels credit: Shutterstock Vladerina32 Shekel slide resumes amid escalating tariff war

The Bank of Israel is not expected to intervene in the forex market despite the sharp depreciation of the shekel.

Nir Zuk credit: Inbal Marmari Palo Alto Networks mulls buying AI security co for $700m

Sources inform "Globes" that on Palo Alto's radar is Protect AI.

President Donald Trump hosts Prime Minister Benjamin Netanyahu credit: Reuters Kevin Mohatt Israeli officials confident on US tariff concessions

Senior Israeli figures believe that concessions could be tied to progress on strategic regional political issues that are important to President Trump.

Phoenix Investment House CEO Avner Hadad credit: Tommy Harpaz "The market has priced in all the bad things"

Phoenix Investment House CEO Avner Hadad says US markets could continue to fall, but that we are close to interesting territory for patient investors.

Tel Aviv credit: Shutterstock Tel Aviv slips in World's Wealthiest Cities ranking

Tel Aviv's position as one of the world's wealthiest cities took a big knock over the past year as it slipped from 42nd to 48th in investment advisors Henley & Co.'s "World's Wealthiest Cities" Top 50 ranking.

Leviathan platform credit: Albatross C'ttee seen recommending no cut in gas exports

The Dayan committee on the future of the gas sector estimates that Israel's natural gas reserves will run out in 2045.

Accountant General Yali Rothenberg credit: Rafi Kutz Israel's fiscal deficit continues to narrow

The deficit narrowed in the twelve months to the end of March 2025, for the sixth consecutive month, Ministry of Finance accountant general Yali Rothenberg reported today.

Arkia credit: Arkia Arkia cuts Tel Aviv - New York April fares

Arkia has cut fares at the last minute, a time when prices usually soar even higher, according to the pricing method used in the industry.

Bank of Israel Governor Prof. Amir Yaron credit: Dani Shem Tov Knesset Spokesperson BoI Governor: US tariffs could push up inflation in Israel

Prof. Amir Yaron tells "Globes" that there is a risk that the new tariffs will cause inflation to rise in the US, with a knock-on effect for Israel.

US President Donald Trump and Prime Minister Benjamin Netanyahu April 7, 2025 credit: Avi Ohayon, Government Press Office Netanyahu fails to persuade Trump to remove tariff on Israel

Asked by reporters whether Israel would be exempted from his tariffs policy, US President Donald Trump replied, "Maybe not. Don’t forget we help Israel a lot."

FBI to investigate Nakash Group Israel CEO

The complaint against Avi Hormaro was filed with the FBI offices in Miami, Florida, where many of the group's companies are incorporated, "Globes" has learned.

Bank of Israel credit: Shutterstock Israel's forex reserves fell in March

Israel’s foreign exchange reserves at the end of March 2025 fell to $218.821 billion, a decrease of $1.433 billion from their level at the end of February, the Bank of Israel reports.

Bank of Israel Governor Prof. Amir Yaron credit: GPO BoI keeps rate unchanged, cuts growth forecast

The Bank of Israel is concerned about inflation, the escalation of the war in Gaza, which has raised Israel's risk premium, and the turmoil on global markets set off by the trade war.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018