Consumer Price Index Rose 0.3% in July; Rent for New Tenants Surged 4.7%

The Consumer Price Index rose 0.3% in July, bringing annual inflation to 1.5%. Rent for new tenants surged 4.7%, while those renewing contracts saw a 2.6% increase. Home prices fell 1.5% over the year, but the average transaction price in the second quarter reached 2.435 million shekels, up 7.9% from last year.

The Central Bureau of Statistics reported today (Friday) that the Consumer Price Index rose 0.3% in July 2026 compared to June, and by 1.5% over the past 12 months. Notable increases were recorded in transportation (1.4%), culture and entertainment (1.1%), and housing (0.7%), while clothing and footwear prices fell 4.6% and fresh vegetables and fruits dropped 3.5%. In the rental market, rents rose 2.6% for tenants renewing contracts and 4.7% for new tenants. The CBS emphasized that these rates approximate the annual change, as most contracts are not indexed. Meanwhile, the housing price index rose 0.1% comparing May-June to April-May, and new home prices rose 0.5%. On an annual basis, the housing price index fell 1.5%, but the average transaction price in the second quarter reached 2.435 million shekels, up 7.9% from 2.2557 million in the corresponding quarter last year. In the construction industry, the input index fell 0.1% in July but rose 3.5% over the past 12 months. The industrial output index fell 1.2%, with a sharp 12.0% drop in refined petroleum product prices.