Israel Housing Prices Fall 1% as Annual Inflation Eases to 1.6%

Israel's housing price index fell 1% in April and May compared with March and April, the sharpest two-month decline in about eight years, according to data released Wednesday. Prices were 2% lower than a year earlier, while new-home prices fell 3.9% year on year. The consumer price index was unchanged in June, easing annual inflation from 1.9% to 1.6%. Fresh fruit and vegetable prices fell 5.2% and clothing and footwear fell 2.7%, while housing rose 0.7%. Rents increased 2.6% for renewed contracts and 6.6% when tenants changed.