February's Consumer Price Index (CPI) dropped by 0.3%, the Central Bureau of Statistics said Monday.
According to the report, clothing and apparel prices noted a 6.3% drop, domestic electricity prices shrunk by 4.6% and internet services' prices fell 4.3%.
Produce prices, however, noted a 3.3% increase. Breads added 0.9%, cellular services' prices rose by 0.7% and meats added 0.6%.
February's CPI rates coincided with market projections, which predicted it would note a 0.3%-0.5% change. January's CPI noted a surprising 0.7% tumble. Market analysts believe the following months will also see negative CPIs.
Yehuda Talmon, president of Lahav, the Israeli association for the self-employed, said that the CPI and low interest rates indicate that the Israeli market's recovery from the financial crisis was still unsteady. Talmon also urged the Bank of Israel to lower interest rates.
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