Israel’s Consumer Price Index (CPI) rose by 0.4% in February, meeting expectations. In the twelve months leading up to February, the inflation rate decreased from 2.6% at the end of January to 2.5%, as reported by the Central Bureau of Statistics today.
Last month, the prices of fresh fruit increased by 10.7%, footwear by 1.4%, entertainment and culture by 1.2%, home maintenance by 0.9%, and furniture, household equipment, and transport each by 0.7%.
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The Central Bureau of Statistics also released the changes in home prices (not included in the general CPI) between November-December 2023 and December 2023-January 2024. On average, prices increased by 1.2%. In different regions, prices went up by 1.4% in Jerusalem, 1.5% in Haifa, 1.1% in the north, 1.1% in the center, 1.1% in Tel Aviv, and 1.8% in the south. Prices of new homes saw an average increase of 0.4%.
Comparing December 2023-January 2024 and December 2023- January 2024, the housing price index decreased by 0.6%. Regionally, prices rose by 3.8% in the north, 2.9% in Haifa, 1.6% in the south, and 1.1% in Jerusalem. Prices dropped by 3.7% in Tel Aviv and 1.1% in the central region. Prices fell by 4.4% in Tel Aviv, 1.3% in Jerusalem, 0.8% in the central region, and 0.1% in the south. Prices increased by 3.3% in the northern region and 0.3% in Haifa. The index for new home prices decreased by 2.2%.
Published by Globes, Israel business news – en.globes.co.il – on March 15, 2024.
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