March CPI reading lower than expected
Israel’s Purchaser Price tag Index (CPI) rose .6% in March, the Central Bureau of Figures reported this afternoon, beneath the economists’ expectation of .8%. Inflation more than the previous 12 months stays at 3.5%, nonetheless well above the Financial institution of Israel’s annual goal variety for inflation of among 1% and 3%.

Because of to the sharp rise in commodity price ranges pursuing the Russian invasion of Ukraine, previously this week 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 popular rises in charges in March, clothing and footwear rose 4.6%, lifestyle and enjoyment rose 2.1%, and transport rose 1.6%. Between the prominent selling price falls in March, clean fruit and vegetable price ranges fell 2.5%.

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

In January-February when compared with December-January, housing price ranges 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 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%).

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

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