March CPI reading lower than expected
Israel’s Buyer Value Index (CPI) rose .6% in March, the Central Bureau of Data documented this afternoon, beneath the economists’ expectation of .8%. Inflation about the earlier 12 months remains at 3.5%, still properly over the Bank of Israel’s annual target assortment for inflation of among 1% and 3%.

Due to the sharp increase in commodity selling prices next the Russian invasion of Ukraine, before this 7 days 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.

Amid the popular rises in selling prices in March, clothes and footwear rose 4.6%, tradition and amusement rose 2.1%, and transport rose 1.6%. Amongst the popular rate falls in March, fresh fruit and vegetable selling prices fell 2.5%.

Housing costs rose 1.8% in January-February when compared with December-January and have risen 15.2% in excess of the earlier 12 months.

In January-February when 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%).

Above the 12 months prior to January-February housing costs 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%).

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

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