The consumer price index rose just 0.2% in May, bringing the annual inflation rate down to 4.6%.
The Israeli CPI reading for May was lower than expected. The index was expected to show a 0.5% gain, but in the event it rose only 0.2%. The annual inflation rate fell to 4.6 percent, the lowest since September 2022.
Residential rents increased by 0.4%.
The residential construction inputs index fell 0.1% in May 2023. In the twelve months to the end of May, the index rose 2.5%.
The House Price Index shows that prices for new and used homes in March-April 2023 declined by 0.2% compared to February-March 2023. In the breakdown by region, prices were flat in Jerusalem and rose By 1.3% in Tel Aviv, by 1.3% in Tel Aviv. 0.2% in Haifa and 1.4% in the south. Prices decreased by 1.3% in the north and by 1.9% in the central region.
The home price index rose 9.8% from March to April 2023 compared to March to April 2022. The new home price index rose 10.3% in that period.
Published by Globes, Israel business news – en.globes.co.il – on June 15, 2023.
© Copyright Globes Publisher Itonut (1983) Ltd., 2023.
Inflation credit: Tali Bogdansky
