ISET

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Retail food prices, as measured by ISET-PI’s FPI, show 3.4% increase y-o-y (that is compared to the January 2015) and 2.6% increase from the previous month (that is when January 2016 is compared to December 2015). Compared to the previous month the biggest rise in price happened for eggplant (33.3%), tomatoes (20.8%) and tangerines (14.3%).
While most of the products became more expensive few foods lost in price. The price of pork decreased by 3.9%, beef lost in value 3.1% and tea’s price went down by 2.5%. Not surprisingly none of the fruits and vegetables lost in their value while cheaper products are available in such categories as meat and groceries.

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Retail food prices, as measured by ISET-PI’s FPI, increased by 0.4% in early December compared to mid-November. Prices are also up 2.2% year-on-year (y-o-y, that is compared to the December 2014). The largest increases were registered for eggplants (up 76%), cucumbers (52.1%) and greens (16.2%).
While most fruits and vegetables grow in price at this time of the year, tangerines continue to lose in value and are currently 57.5% cheaper than in November. Perhaps surprisingly, cheese, which is usually more expensive in winter, lost 8.5% in price (this may be caused by the pre-Christmas fast-related slump in demand); the price of garlic is also down by 7.7%.

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In the last two weeks of November, Retail FPI decreased by 0.3%. Prices increased in the fruit and vegetable category. Grape price increased by 47%, tomatoes by 17.3% and eggplant by 12%. Unlike other fruits, tangerines, which are late to arrive to the market, went down in price by more than 30%.
When looked from an annual perspective (November 2015 vs. November 2014), on average, retail food prices demonstrate remarkable stability.
Thus, Retail FPI for November 2015 is only 0.4% higher than last year. Of course, some products went up in price while others became cheaper. The former category includes meat, dairy products and vegetables (up by 2%, 3%, and 4%, respectively). In the latter category are fruits (down 5%) and cereals, such as rice and buckwheat, which lost about 10% in their prices.

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October Retail FPI was pretty stable showing negligible 0.1% decrease in the 4th week of October compared to the middle of the month. (See the diagram with Retail FPI dynamics on the right).

Apples lost in price 31%, coffee whose price is usually very stable, became cheaper by 21% (due to discount offered by one of the supermarkets) and rice price decreased by 13% (again due to discounts offered by one of the supermarkets). However not all the foods became cheaper. Cucumbers gained in value 78%, followed by onions, whose price increased by 23%. Tomatoes and greens showed 21% and 20% price increase respectively. Thus the biggest changes in prices not surprisingly happened for vegetables and fruits which are seasonal foods.

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