Israel’s Consumer Price Index (CPI) rose 0.6% in March, slightly higher than the economists’ expectations of 0.5%. In the twelve months to the end of March, the rate of inflation rose to 2.7% from 2.5% at the end of February, according to figures released by the Central Bureau of Statistics today.
The prices of clothing and footwear rose 2% in March, culture and entertainment prices rose 1.5%, housing maintenance rose 0.6%, health rose 0.5% and transport rose 0.4%.
Fresh fruit and vegetable prices fell 3% last month.
The Central Bureau of Statistics has also published the change in home prices (which are not part of the general CPI) between December 2023-January 2024 and January-February 2024. On average, prices rose 1%. This was the third consecutive month that prices have risen after many months of declines. In the breakdown by region, prices rose by 0.7% in Jerusalem, fell by 0.2% in the north, rose by 1.3% in Haifa, 0.5% in the center, 2.1% in Tel Aviv, and by 0.4% in the south. Prices of new homes remained unchanged.
In the comparison between January-February 2024 and January-February 2023, the index of housing prices rose 0.3%. In the breakdown by region, prices rose by 4.4% in Haifa, 3.6% in the south, 2.1% in Jerusalem and 0.9% in the north. Price fell by 1.8% in Tel Aviv and 0.5% in the central region. The index of new home prices fell 2.1%.
Published by Globes, Israel business news – en.globes.co.il – on April 15, 2024.
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