March CPI reading lower than expected
Israel’s Shopper Selling price Index (CPI) rose .6% in March, the Central Bureau of Data claimed this afternoon, down below the economists’ expectation of .8%. Inflation above the past 12 months remains at 3.5%, nonetheless perfectly over the Lender of Israel’s yearly concentrate on range for inflation of concerning 1% and 3%.

Thanks to the sharp rise in commodity prices adhering to the Russian invasion of Ukraine, earlier this week the Lender 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 outstanding rises in prices in March, clothes and footwear rose 4.6%, tradition and amusement rose 2.1%, and transport rose 1.6%. Among the the prominent value falls in March, fresh new fruit and vegetable charges fell 2.5%.

Housing rates rose 1.8% in January-February as opposed with December-January and have risen 15.2% around the previous 12 months.

In January-February in contrast with December-January, housing costs 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 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 enterprise news – en.globes.co.il – on April 15, 2022.

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