Consumer Price Index increases by 1.1 percent in July 2008

The Consumer Price Index increased by 1.1 percent in July, considerably surpassing forecasts, Israel Radio reported Friday. The most significant increase was in the prices of fruits and vegetables, housing, and transportation. The banking services category, which also measures bank service charges, increased by 16%, while clothing and footwear prices decreased by 8%. The CPI has increased by 4.8% over the last year, increasing by 3.5% since the beginning of 2008. Meanwhile, the construction input index increased by 6.1%.