Consumer Price Index drops by 0.9% to lowest point in years

The Consumer Price Index fell by 0.9 percent in January – to one of its lowest points in recent years – the Central Bureau of Statistics reported on Sunday. Last month, prices of gas and oil for automotives decreased by 8.8 percent, contributing to 0.33 percent of the CPI’s drop. Homeowners’ housing costs fell by 1.2 percent, accounting for 0.22 percent of the negative trend in the CPI.



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