March CPI reading lower than expected
Israel’s Client Rate Index (CPI) rose .6% in March, the Central Bureau of Studies reported this afternoon, down below the economists’ expectation of .8%. Inflation more than the earlier 12 months continues to be at 3.5%, continue to nicely previously mentioned the Lender of Israel’s once-a-year target variety for inflation of amongst 1% and 3%.

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

Amongst the outstanding rises in rates in March, clothing and footwear rose 4.6%, lifestyle and leisure rose 2.1%, and transport rose 1.6%. Among the notable rate falls in March, new fruit and vegetable charges fell 2.5%.

Housing selling prices rose 1.8% in January-February in comparison with December-January and have risen 15.2% in excess of the previous 12 months.

In January-February in contrast 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%).

More than the 12 months prior to January-February housing charges 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%).

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

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