March CPI reading lower than expected
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Israel’s Customer Rate Index (CPI) rose .6% in March, the Central Bureau of Stats claimed this afternoon, down below the economists’ expectation of .8%. Inflation about the earlier 12 months remains at 3.5%, nonetheless properly previously mentioned the Financial institution of Israel’s yearly goal selection for inflation of concerning 1% and 3%.

Owing to the sharp increase in commodity price ranges next the Russian invasion of Ukraine, earlier this week the Bank 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.

Among the the notable rises in price ranges in March, outfits and footwear rose 4.6%, culture and entertainment rose 2.1%, and transport rose 1.6%. Between the popular price tag falls in March, contemporary fruit and vegetable charges fell 2.5%.

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

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

More than 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%).

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

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


