CPI fell 0.1% in January, housing prices jumped 0.9%

Homes under construction / Photo: Rafi Kotz, Globes

The Consumer Price Index has fallen 0.4% over the past 12 months but housing prices have risen 4%.

Israel's Consumer Price Index (CPI) fell 0.1% in January 2021, the Central Bureau of Statistics reports, a more moderate fall than the economists' consensus, which was that the CPI last month would fall 0.3%. Over the past 12 months, the CPI has fallen by 0.4%.

There were significant price falls in January in fresh fruit and vegetables (2.7%) and clothing and footwear (9.7%).

The housing prices index, which is separate from the CPI, continued to rise in the period November-December, in comparison with October-November, climbing by 0.9%, after rising 1%% the previous month. Housing prices have risen 4% over the past 12 months.

The prices of new homes rose by 0.5% in November-December, in comparison with October-November, and have risen by 3.1% over the past 12 months.

The price of an average apartment in Israel in the fourth quarter of 2020 was NIS 1.574 million, compared with NIS 1.571 million in the preceding quarter.

Published by Globes, Israel business news - en.globes.co.il - on February 15, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Homes under construction / Photo: Rafi Kotz, Globes
Homes under construction / Photo: Rafi Kotz, Globes
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