The consumer price index in Israel (CPI) increased by 0.6 % in January, according to the numbers issued by the Central Bureau of Statistics today. It was expected to increase analysts with an increase of 0.5 % -0.6 %, after the consumer price index decreased by 0.3 % in December 2024, reducing inflation to 3.2 %. Inflation is still much higher than the upper limit of the 3 % annual target group.
It is estimated that the consumer price index in January was exceptional due to government tax increases and that the Bank of Israel will not panic to raise the interest rate to combat inflation. In addition to an increase in value -added tax from 17 % to 18 % at the beginning of January and other tax increases, there was also an increase in prices in electricity, water and local power taxes (ARNona).
The Central Bureau of Statistics also published the change in home prices (which is not part of the public consumer price index) between October-November 2024 and November to December 2024. On average, prices rose 0.4 %, after an increase of 0.6 % in the previous month. In the collapse by the region, prices rose by 1.2 % in Jerusalem, 1.2 % in the north, and 0.3 % in Haifa, and decreased by 0.1 % in the center, but increased by 0.6 % in Tel Aviv, and 0.3 % in the south. The prices of new apartments increased by 0.7 %.
In the comparison between November to December 2024 and November to December 2023, the housing price index increased by 7.3 %. In the collapse of the region, prices increased by 11.1 % in Haifa, 9.4 % in Tel Aviv, 9.2 % in the north, 5.7 % in the central region, 4.9 % in the south, and 3.1 % in Jerusalem. The prices of new apartments increased by 4.4 % during the past year.
It was published by Globes, Israel Business News – En.globes.co.il – on February 14, 2025.
© Copy Publish Publisher Itonut (1983) Ltd. , 2025.
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