March CPI reading lower than expected

Israel’s Purchaser Price tag Index (CPI) rose .6% in March, the Central Bureau of Figures claimed this afternoon, down below the economists’ expectation of .8%. Inflation in excess of the past 12 months stays at 3.5%, continue to well earlier mentioned the Financial institution of Israel’s once-a-year target selection for inflation of amongst 1% and 3%.

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Due to the sharp rise in commodity costs subsequent the Russian invasion of Ukraine, previously this 7 days the Bank of Israel revised its inflation forecast for 2022 sharply upwards from 2% to 3.6%. The Bank of Israel sees 2% inflation in 2023.

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Among the the distinguished rises in prices in March, clothes and footwear rose 4.6%, culture and entertainment rose 2.1%, and transportation rose 1.6%. Among the prominent cost falls in March, fresh new fruit and vegetable selling prices fell 2.5%.

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

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In January-February in contrast 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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About the 12 months prior to January-February housing rates 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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Published by Globes, Israel company 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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