March CPI reading lower than expected
Israel’s Client Value Index (CPI) rose .6% in March, the Central Bureau of Stats claimed this afternoon, down below the economists’ expectation of .8%. Inflation about the previous 12 months continues to be at 3.5%, continue to nicely previously mentioned the Financial institution of Israel’s annual focus on variety for inflation of among 1% and 3%.

Because of to the sharp rise in commodity selling prices adhering to the Russian invasion of Ukraine, earlier this week the Financial institution 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.

Between the outstanding rises in selling prices in March, clothes and footwear rose 4.6%, lifestyle and entertainment rose 2.1%, and transport rose 1.6%. Between the notable selling price falls in March, clean fruit and vegetable charges fell 2.5%.

Housing rates rose 1.8% in January-February compared with December-January and have risen 15.2% more than the previous 12 months.

In January-February in comparison 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%).

Over the 12 months prior to January-February housing price ranges 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%).

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

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