March CPI reading lower than expected

&#13

Israel’s Shopper Price tag Index (CPI) rose .6% in March, the Central Bureau of Data reported this afternoon, down below the economists’ expectation of .8%. Inflation around the past 12 months stays at 3.5%, even now very well higher than the Financial institution of Israel’s yearly target vary for inflation of between 1% and 3%.

&#13

Because of to the sharp increase in commodity rates next the Russian invasion of Ukraine, earlier this 7 days 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.

&#13

Among the well known rises in prices in March, clothes and footwear rose 4.6%, society and entertainment rose 2.1%, and transportation rose 1.6%. Among the the popular price tag falls in March, refreshing fruit and vegetable costs fell 2.5%.

&#13

Housing charges rose 1.8% in January-February in comparison with December-January and have risen 15.2% above the previous 12 months.

&#13

In January-February compared 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%).

&#13

About 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%).

&#13

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

&#13

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

&#13
&#13