Israel’s Consumer Price Index (CPI) fell for the fourth consecutive month in February, to 0.3%, the Central Bureau of Statistics announced late Tuesday.
Prices declined 0.5 percent in January, 0.1 percent in December and 0.4 percent in November. Over the past 12 months, the CPI fell 0.2 percent, significantly below the government’s inflation target range of between 1 percent and 3 percent.
The steady decline was attributed to plummeting oil prices.
As for the bad news, home prices were still going higher. The CBI’s apartment prices index for January rose 0.6 percent, after rising 0.7 percent in December, reflecting a 7.8 percent rise in home prices over the past 12 months.