Annual inflation is at its lowest since September 2022, and home prices are starting to fall.
The Central Bureau of Statistics announced this afternoon that the Israeli Consumer Price Index (CPI) rose by 0.4% in March 2023. This falls within the range of expectations, with analysts expecting a rise between 0.3% and 0.6%. In the past 12 months, the consumer price index has increased by 5%, down from 5.2% last month. This is the lowest annual inflation rate since last September, when annual inflation reached 4.6%.
There were notable rises in the prices of clothing and footwear (4.1%), culture and leisure (0.9%), and housing costs (0.6%) in March.
There was a noticeable decrease in the prices of fresh fruits last month (2.8%), and furniture and household maintenance products (1.6%).
Changes in housing prices are published at the same time as the consumer price index but are not included in it. In January-February 2023, home prices declined by 0.2% compared to December-January 2022/2023, and increased by 12.7% compared to January-February 2022.
Published by Globes, Israel business news – en.globes.co.il – on April 14, 2023.
© Copyright Globes Publisher Itonut (1983) Ltd., 2023.
Inflation credit: Tali Bogdansky