March CPI reading lower than expected

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Israel’s Customer Price tag Index (CPI) rose .6% in March, the Central Bureau of Figures noted this afternoon, down below the economists’ expectation of .8%. Inflation above the past 12 months stays at 3.5%, however nicely over the Lender of Israel’s yearly goal array for inflation of in between 1% and 3%.

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Thanks to the sharp increase in commodity rates following the Russian invasion of Ukraine, before this week the Financial institution of Israel revised its inflation forecast for 2022 sharply upwards from 2% to 3.6%. The Lender of Israel sees 2% inflation in 2023.

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Between the distinguished rises in rates in March, outfits and footwear rose 4.6%, culture and leisure rose 2.1%, and transportation rose 1.6%. Among the notable price falls in March, fresh fruit and vegetable costs fell 2.5%.

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Housing price ranges rose 1.8% in January-February as opposed with December-January and have risen 15.2% over the earlier 12 months.

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In January-February compared with December-January, housing selling 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%).

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Over the 12 months prior to January-February housing price ranges 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%).

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

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

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