March CPI reading lower than expected

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Israel’s Client Price tag Index (CPI) rose .6% in March, the Central Bureau of Stats noted this afternoon, down below the economists’ expectation of .8%. Inflation more than the previous 12 months remains at 3.5%, even now effectively higher than the Lender of Israel’s once-a-year goal selection for inflation of in between 1% and 3%.

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Due to the sharp increase in commodity charges adhering to the Russian invasion of Ukraine, previously this 7 days 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.

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Amongst the notable rises in charges in March, clothes and footwear rose 4.6%, lifestyle and leisure rose 2.1%, and transport rose 1.6%. Amid the prominent cost falls in March, clean fruit and vegetable rates fell 2.5%.

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

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In January-February compared 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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In excess of 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%).

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Printed by Globes, Israel organization 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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