The Central Bureau of Statistics ( CBS ) reported last week that in May-July 2005, the annualized inflation rate in trend figures, reached 4.4%. the CBS added that the annualized inflation rate was far above the 1-3% official inflation target set by the government and the Bank of Israel.
In a lengthy analysis the CBS noted that the Consumer Price Index (CPI), excluding housing, fruits, and vegetables was up over and above the government official target.
in May-June the CPI, excluding housing, rose by an annualized 2.3% double the rise in the preceding three months.
In addition the CBS published economic figures for May-July.
According to the CBS output by the industrial sector rose by an annualized 1.8%, industrial exports by 2.3%, proceeds at chain stores 6.9% and retail proceeds 5.7%.
Exports of goods in general, excluding diamonds, were unchanged in May-July, after slow growth in the preceding months.
Imports, according to the CBS, excluding diamonds, were also unchanged. Imports of raw materials, excluding diamonds and fuel, was down, in May-July, by an annualized 4.8%. Imports of investment goods were down 3.2%.
