March CPI reading lower than expected

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Israel’s Purchaser Rate Index (CPI) rose .6% in March, the Central Bureau of Studies documented this afternoon, down below the economists’ expectation of .8%. Inflation above the past 12 months continues to be at 3.5%, nevertheless perfectly previously mentioned the Bank of Israel’s once-a-year concentrate on assortment for inflation of among 1% and 3%.

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Due to the sharp increase in commodity costs subsequent the Russian invasion of Ukraine, previously this 7 days the Bank 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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Amid the popular rises in price ranges in March, outfits and footwear rose 4.6%, lifestyle and entertainment rose 2.1%, and transportation rose 1.6%. Amongst the outstanding selling price falls in March, fresh fruit and vegetable selling prices fell 2.5%.

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

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In January-February when compared with December-January, housing price ranges 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 rates 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 small business news – en.globes.co.il – on April 15, 2022.

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

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