CPI up 0.6% in March, housing prices still rising

inflation

The Consumer Price Index has risen 0.8% since the start of 2021, while housing prices have risen 4% over the past year.

Israel's Consumer Price Index (CPI) rose 0.6% in March 2021, the Central Bureau of Statistics reports, slightly higher than the analysts' consensus of 0.5%. Since the start of 2021, the CPI has risen 0.8% and over the past 12 months, the CPI has risen 0.2%. The high inflation figure for March would seem to suggest a return to normalcy after 12 month in which the Covid-19 pandemic has hit economic activity.

There were significant price rises in March in clothing (5.8%), entertainment and culture (2.2%), transport (0.9%), and furniture and household equipment (0.8%). There were significant price falls in fresh fruit and vegetables (1.5%).

The housing prices index, which is separate from the CPI, continued to rise in the period January-February, in comparison with December-January, climbing by 0.3%. Housing prices have risen 4% over the past 12 months.

During January-February compared with December-January, housing prices in the south rose 1.1%, in Haifa 0.9%, in Central Israel 0.8%, in the north 0.5%. Over this period prices fell 0.2% in Tel Aviv and fell 0.6% in Jerusalem.

Over the past 12 months prices have risen 5.4% in the north, 4.5% in Central Israel, 4.3% in the south, 3.9% in Tel Aviv, 3% in Haifa, and 1.2% in Jerusalem.

Published by Globes, Israel business news - en.globes.co.il - on April 14, 2021

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

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