JERUSALEM, Oct. 15 (Xinhua) -- Israel's 12-month inflation rate stood at 3.5 percent in September, down from 3.6 percent in August, according to data released by the state's Central Bureau of Statistics on Tuesday.
It is the first decline in the Israeli 12-month inflation figure since this February, when it then stood at 2.5 percent.
However, the latest figure is still higher than the government's inflation target range of 1 to 3 percent.
Israel's consumer price index, a key measure of inflation, decreased by 0.2 percent in September, primarily driven by price drops for transportation, culture and entertainment, clothing and footwear, and fresh fruits.
According to analysts, the negative price index in September lowered the likelihood of the central bank raising the 4.5-percent base interest rate in the upcoming interest rate decision in late November.
Israeli home prices in July-August recorded an increase of 6.3 percent year-on-year, the highest rise in more than a year.
