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Jerusalem,
February 15, 2018
044/2018
Decrease of 0.5% in the Consumer Price Index (CPI),January 2018
- The CPI decreased 0.5% in January 2018 compared to December 2017. It was 99.9 points, compared to 100.4 points in the previous month (base: average 2016 = 100.0 points). The CPI excluding vegetables and fruit and the CPI excluding energy decreased 0.4% and were 100.1 and 99.7 points, respectively. The CPI excluding housing decreased 0.3% and was 99.1 points.
- Prices of the following items decreased in particular:clothing and footwear 8.8%, fresh vegetables 2.8% and culture and entertainment 0.9%.
- Prices of the following items increased in particular:fresh fruit 3.3%.
- Over the past 12 months (January 2018 compared to January 2017), the CPI increased 0.1%,the CPI excluding energy increased 0.2% andthe CPI excluding vegetables and fruit increased 0.3%. In contrast, the CPI excluding housing decreased 0.5%.
- The seasonally adjusted CPI decreased 0.1% in January 2018, the seasonally adjusted CPI excluding vegetables, fruit and housingremained unchanged andthe seasonally adjusted CPI excluding housing increased 0.1%.
- Based on the trend data for the period October 2017 – January 2018, the annual pace of increase in the CPI and for the CPI excluding vegetables, fruit and housing was 0.6%, for each.The annual pace of increase for theCPI excluding housing was 0.3%.
Please note: This Press Release is for PublicationAfter 18:30 PM on Thursday, February 15, 2018
Diagram 1 – Monthly Percentage Change in CPI duringthe Past 12 Months
Diagram 2 – CPI 12-Month Inflation Rate for the Past 10 Years Product and Service Groups that Particularly Influenced the Index This Month:
Contribution to Index's Percentage Change / Percentage Change / Product/Service Group0.2248- / 8.8- / clothing
0.1435- / 0.8- / owned dwellings services
0.0618- / 8.7- / footwear
0.0388- / 5.1- / recreation, holidays and trips
0.0355- / 2.8- / fresh vegetables
0.0319- / 0.9- / electricity, gas, water etc.
0.0288 / 0.9 / vehicle fuel and lubricants
0.0294 / 3.3 / fresh fruit
0.0329 / 1.0 / meat, poultry, fish and their products
0.0405 / 1.7 / vehicle insurance
Major Changes in Primary Consumption Items
Food (excluding vegetables and fruit)
The food price index increased 0.3%.
The following increased in particular:pork(5.1%),fresh fish(4.2%),cookies and biscuits(3.9%),noodles, spaghetti, etc.(3.0%),baking and cake decorating products(2.4%),cheese and milk desserts(2.1%),chicken and parts thereof(1.9%),beef, internal parts(1.6%),oils(1.5%),ice cream and popsicles(1.5%),cereals and cereal products(1.4%),prepared fish products(1.4%),pasteurized milk(1.4%),salt(1.4%),wafers(1.3%),sausage, pastrami and hot dogs(1.3%),sweet, cooking, and whipped cream(1.2%),spices (various)(1.2%),canned fish(1.1%),processed and other cheeses(1.1%),cocoa(1.1%),white flour(1.0%),eggs (special, organic, etc.)(1.0%) and sweets and chocolate(1.0%).
The following decreased in particular:tahini(4.2%),prepared vegetable salads(3.2%),soup mixes and prepared dishes(2.0%),honey(1.7%),cultured milk and yogurt(1.5%),soy drinks or flavoured milk(1.4%),soft drinks(1.3%),salty snacks(1.2%),mayonnaise(1.1%),processed fish(1.0%) and sugar substitutes(1.0%).
Vegetables and Fruit
The vegetables and fruit index decreased 0.2%.
The fresh vegetables index decreased 2.8%; In contrast the fresh fruit index increased 3.3%.The frozen, pickled and canned vegetables index increased 1.0%;in contrast the dried andcanned fruit index decreased 1.3%.
Among the fresh vegetables, the following decreased in particular: artichoke(16.5%),kohlrabi(13.5%),cabbage(11.2%),broccoli(10.6%),tomatoes(9.4%),cauliflower(7.3%),potatos and sweet potatos(4.8%),fresh beans(4.4%),fennel(4.4%),lettuce(2.9%),carrots(2.5%),fresh mushrooms(1.3%),cucumbers(1.1%) and peppers(1.1%).
The following increased in particular: corn on the cob(10.1%),eggplant(9.0%),squash(5.4%),garlic(3.0%),pumpkin and butternut squash(2.4%) and leaf vegetables(2.1%).
Among the fresh fruit, the following increased in particular:avocados(19.7%),bananas(4.8%),persimmons(3.3%),pomegranates(2.4%),lemons(2.2%) and apples(1.7%).
The following decreased in particular: pomelos(2.8%),pears(2.8%),grapefruit(2.5%) and clementine(1.5%).
Among the processed vegetables and fruit, the following decreased in particular: dried fruit(5.9%),other pickled vegetables(4.5%),olives(2.0%) and almonds(1.4%).
The following increased in particular:other frozen vegetables(4.4%),seeds(3.5%),canned vegetables(1.6%) and peanuts(1.4%).
Housing
The housing price index decreased 0.6%.
The owned dwellings services indexdecreased 0.8%;in contrastthe rent index increased 0.2%.
Owned Dwellings Services
The owned dwellings services index showed adecrease in January 2018 compared to December2017. This decrease reflects the changes in rental prices set in contracts signed in December2017–January 2018, compared to contracts signed in November2017–December2017.
Change in prices of the market of dwellings that are not included in the Consumer Price Index[1]
Indices of Prices of Dwellings (change in prices, with deduction of change in quality of the mix and in type of dwellings):
A comparison of the transactions during November 2017–December 2017 to the transactions during October 2017–November 2017 shows that dwelling prices decreased 0.7%[2].
A comparison of the transactions during the current period compared to the same period last year, i. e., November 2017–December 2017 compared to November 2016–December 2016, showed that dwelling prices increased 2.0%2.
Note that the index of prices of dwellings that was published last year did not include the new explanatory variables that were added to the statistical model used to calculate the index1.
A comparison of the transactions during November 2017–December 2017 to the transactions during October 2017–November 2017 shows that new dwelling prices decreased 1.4%2.Government-supported transactions included in the calculation of the index of new dwellings constituted 25.7% of the number of transactions.
A comparison of the transactions during November 2017–December 2017 to the transactions during October 2017–November 2017 shows that the prices of new dwellings by district changed as follows: Jerusalem (-4.2%2), Northern (-2.0%2), Haifa (-0.3%2), Central (0.5%2), Tel Aviv (-0.2%2), and Southern (-0.2%2).
Average price level of dwellings (changes in prices do not include deduction of change in quality of the mix and in type of dwellings):
The national average price of transactions in the last quarter of 2017 was 1,442,6002NIS, compared to a national average price of transactions in the third quarter of 2017 of 1,495,100NIS. This 3.5% drop in average prices is influenced by price levels as well as by the quality of the apartments sold and by the national dispersion.
The CBS would like to express its thanks to the Public Advisory Committee on Housing, Construction, and Real Estate of the Public Advisory Council for Statistics.
The CBS is investigating the possibility of publishing additional housing indices and average prices, as recommended by the committee.
Dwelling Maintenance
The dwelling maintenance index remained unchanged.
The municipal taxes index increased 1.6% in January 2018. This increase reflects the difference between the actual rate of increase of payments of municipal taxes on dwellings in January 2018 compared to January 2017, and the estimate of change that was calculated during this period.
The following decreased in particular:laundry detergent, cleaning materials, and pesticides(1.6%),electricity(1.2%) and gas(1.1%).
The following increased in particular:kerosene for heating (1.3%).
Furniture and Household Equipment
The furniture and household equipment index increased 0.1%.
The following increased in particular:flowers and plants(3.6%),dining room tables and chairs(2.3%),buffets(1.9%),bookcases/bookshelves(1.7%),outdoor furniture(1.5%),deep freezer(1.5%) and carpets(1.0%).
The following decreased in particular: candles and air fresheners(12.1%),plates(4.3%),mirrors, clocks, and frames(2.9%), vase (2.1%),mugs, cups, and glasses(2.0%),tablecloths and napkins(1.8%),cutlery(1.4%),refrigerator(1.3%),kitchen accessories(1.1%),closets(1.0%) and bedding and towels(1.0%).
Clothing and Footwear
The clothing and footwear index decreased 8.8%; the seasonally adjusted index decreased 1.9%.
The clothing index decreased 8.8% and the footwear index decreased 8.7%.
Among clothing items, the following decreased in particular:outerwear(10.0%), miscellaneous clothing such ashats, scarves, and ties(8.2%),sports and exercise clothes(7.7%) and underwear (5.3%).
Among footwear items, the following decreased in particular:women‘s footwear (10.4%), children‘s footwear (8.7%) andmen‘s footwear(6.9%).
Health
The health index increased 0.2%.
The following increased in particular: fashion sunglasses(2.1%).
Education, Culture and Entertainment
The education, culture and entertainment index decreased 0.5%.
The education services index decreased 0.1% andthe culture and entertainment index decreased 0.9%.
The following decreased in particular: hotels and guest houses(7.2%), tickets or subscription to sporting event(3.4%),audio-visual systems(2.5%),computers and peripheral equipment(1.5%),swimming pool or health club membership(1.1%) and photography equipment and services(1.1%).
The following increased in particular: fiction and nonfiction books(5.4%),daily newspapers, weeklies, and monthlies(1.5%) and admissions to parks or amusement parks(1.1%).
Transport and Communication
The transport and communication index increased 0.1%.
The transport index increased 0.3%; in contrastthe communication index decreased 0.3%.
The following increased in particular: vehicle insurance(1.7%).
The following decreased in particular: car rental for domestic travel(13.0%).
Miscellaneous
The miscellaneous index increased 0.2%.
The following increased in particular:creams, perfume, and facial products(2.6%),diapering products and accessories for babies(2.5%),make-up and cosmetics(1.6%) and wallets(1.6%).
The following decreased in particular: toiletries and bath products(2.0%).
1
[1]For explanations, see Appendix 1.3 to the CBS's Price Statistics Monthly, "Methodology for Calculating the Index of Prices of Dwellings, and Quarterly and Annual Averages".
[2]The datum is not final because additional transactions were carried out during this period but not yet reported.