Against its Israeli counterpart, the US dollar traded lower during New York afternoon deals on Monday. At present, the greenback is trading near 1.7928 versus the shekel from European session's 2-week high of 3.8161. The dollar-shekel pair was worth 3.8057 at last week's close.

A report by the Central Bureau of Statistics today showed that consumer price index, or CPI rose 1.8% year-on-year in July, but slower than a 2.4% growth in the previous month. Food prices, excluding prices of vegetables and fruits, increased 1.8% in July, while the index, without housing rose 0.8%. Transport and communication charges grew 2%.

On a monthly basis, the CPI rose 0.5% in July. Similarly, food prices, excluding prices of vegetables and fruits rose 0.5%, while the index without housing increased 0.4%. Health charges were up 0.5%.

Israel's official data showed today that Gross domestic product rose 4.7% on an annual basis in the second quarter, faster than the first three months' growth rate of 3.6%. It was the fastest growth in more than two years. In the first six months of the year, the economy expanded 4.1%.

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