JERUSALEM, Nov. 15 (Xinhua) -- Israel's annual inflation over the past 12 months has risen by 0.4 percent, according to a statement released on Friday by the state's Central Bureau of Statistics.

The rate is significantly lower than the annual government inflation target, ranging from 1 to 3 percent.

Since the beginning of 2019, Israeli inflation has been 1 percent, just at the lower limit of the target range.

According to the data, Israel's consumer price index (CPI), a key gauge of inflation, increased by 0.4 percent in October month on month, after registering a 0.2 percent decrease in September.

The Israeli media estimates that these figures increase the chances of reducing Israel's basic interest rate in the upcoming decision by the central bank on Nov. 25.

Israel's base interest, which stands at 0.25 percent, has not been changed since November 2018.

The data also show that in August-September 2019, home prices in Israel rose by 0.2 percent compared to July-August 2019, and by 1.9 percent over the past year, despite government programs to stop the prolonged price increase. Enditem

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