Israel: The Central Bank reported a slowdown in inflation in November

According to the Central Bureau of Statistics, the consumer price index fell by 0.4% in November, exceeding analysts’ forecasts. The report notes a slowdown in inflation from 3.5% to 3.4%.

In November, prices for fresh vegetables and fruits (6.6%), transport (1.5%), education, culture and entertainment (1.3%) and shoes (0.7%) decreased significantly.

At the same time, an increase in prices was recorded for clothing (1.2%), food and housing (each item by 0.3%).

At the same time, prices for rental housing continue to rise: when the contract was renewed, the monthly rent increased by 2.6% on average; for new tenants the increase was 3.8%.

In the real estate market in September-October, prices increased by 0.5% compared to prices in August-September 2024. Real estate prices rose the most in the Northern District (1.5%). In Tel Aviv, prices increased by 1%, in the Southern District and Center by 0.4%. Negative rates were recorded in Jerusalem (-0.4) and Haifa (-0.2%).

When comparing the prices of real estate transactions completed in September-October 2024 with those completed in September-October 2023, the annual housing price index increased by 6.7%.