consumer price index (illustraytion)
consumer price index (illustraytion)iStock

The consumer price index rose in July by 0.3%. In the last twelve months, the consumer price index index has risen by 3.3%.

Notable price increases were recorded in vegetables and fruit sections which increased by 3.4%, housing and transportation which increased by 0.7% each, apartment maintenance which increased by 0.6% and food which increased by 0.4%.

Notable price decreases were recorded in clothing and footwear items which decreased by 4.8%, and furniture and home equipment and communication which decreased by 1.2%.

Rentals, not including public rentals, increased by 0.5%. Monthly rent for tenants who renewed a contract increased by 3.8%. For new tenants (apartments where there was a change of tenant) an increase of 9.0% was recorded.

The input price index in residential construction decreased in July by 0.2% and reached 129.3 points compared to 129.6 points in the previous month (Base: July 2011 = 100.0 points). Since the beginning of the year, this index has increased by 1.5%. The index of input prices in residential construction, not including labor wages, decreased by 0.5%.

In the last 12 months (July 2023 compared to July 2022), the price index in residential construction increased by 1.5%, mainly due to the increase in the prices of materials and products by 2.3% and the prices of labor wages by 1.4%.

Prices fell for basic metals (1.9%), paper and its products (1.9%), clothing products (1.8%), and chemicals and chemical products (1.2%) this month.

At the same time, it was found that the prices of apartments for sale decreased by 0.2% for the months of May-June compared to April-May.

Price changes were recorded in Jerusalem (0.3%), the North (0.5%), Haifa (0.5%), Center (0.0%), Tel Aviv (-1.3%), and the South (0.0%). The prices of new apartments decreased by 0.6%.

Year on year, the annual apartment price index increased by 5.2%. The annual new apartment price index rose by 5.8%.

Prime Minister Benjamin Netanyahu responded this evening (Tuesday) to the consumer price index results for July.

"More good news for Israel's economy. Our economic policy works for the benefit of all Israeli citizens. There is more to be done - and we will do it," Netanyahu wrote on Twitter.