March CPI reading lower than expected
Israel’s Shopper Value Index (CPI) rose .6% in March, the Central Bureau of Studies described this afternoon, under the economists’ expectation of .8%. Inflation over the previous 12 months continues to be at 3.5%, nevertheless nicely above the Bank of Israel’s yearly goal assortment for inflation of among 1% and 3%.

Owing to the sharp increase in commodity costs 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 Bank of Israel sees 2% inflation in 2023.

Among the the popular rises in rates in March, garments and footwear rose 4.6%, culture and amusement rose 2.1%, and transportation rose 1.6%. Among the the prominent selling price falls in March, new fruit and vegetable rates fell 2.5%.

Housing price ranges rose 1.8% in January-February in contrast with December-January and have risen 15.2% about the previous 12 months.

In January-February in contrast with December-January, housing charges 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%).

Around 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 news – en.globes.co.il – on April 15, 2022.

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