March CPI reading lower than expected

Israel’s Purchaser Rate Index (CPI) rose .6% in March, the Central Bureau of Data reported this afternoon, below the economists’ expectation of .8%. Inflation above the past 12 months stays at 3.5%, continue to well higher than the Financial institution of Israel’s yearly focus on array for inflation of amongst 1% and 3%.

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Thanks to the sharp rise in commodity charges adhering to 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 Bank of Israel sees 2% inflation in 2023.

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Among the the well known rises in costs in March, clothing and footwear rose 4.6%, tradition and leisure rose 2.1%, and transportation rose 1.6%. Between the notable selling price falls in March, contemporary fruit and vegetable costs fell 2.5%.

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

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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%).

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Over the 12 months prior to January-February housing selling prices 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%).

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

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

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