March CPI reading lower than expected
Israel’s Shopper Selling price Index (CPI) rose .6% in March, the Central Bureau of Stats documented this afternoon, down below the economists’ expectation of .8%. Inflation in excess of the previous 12 months stays at 3.5%, continue to properly earlier mentioned the Bank of Israel’s once-a-year goal array for inflation of involving 1% and 3%.

Because of to the sharp rise in commodity selling prices next the Russian invasion of Ukraine, before this 7 days the Bank of Israel revised its inflation forecast for 2022 sharply upwards from 2% to 3.6%. The Lender of Israel sees 2% inflation in 2023.

Among the well known rises in rates in March, clothes and footwear rose 4.6%, culture and amusement rose 2.1%, and transportation rose 1.6%. Amongst the outstanding value falls in March, new fruit and vegetable charges fell 2.5%.

Housing costs rose 1.8% in January-February as opposed with December-January and have risen 15.2% in excess of the previous 12 months.

In January-February compared with December-January, housing prices in central Israel rose 2.4%, in Jerusalem (2.2%), Haifa (2.1%), northern Israel (1.6%), southern Israel (1.5%), and in Tel Aviv (1.3%).

About the 12 months prior to January-February housing selling prices rose 17.7% in central Israel, in Jerusalem (16.4%), Tel Aviv (14.5%), Haifa (13.2%), southern Israel (12.5%) and northern Israel (11.5%).

Revealed by Globes, Israel business information – en.globes.co.il – on April 15, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


