Israel’s inflation rate falls again, housing prices rise

Israel’s Consumer Price Index (CPI) was rose 0.4% in February, in line with expectations. In the twelve months to the end of February, the rate of inflation fell to 2.5% from 2.6% at the end of January, according to figures released by the Central Bureau of Statistics today.

The prices of fresh fruit rose by 10.7% last month, footwear rose by 1.4%, entertainment and culture rose by 1.2%, home maintenance rose by 0.9%, and furniture and household equipment and transport each rose by 0.7%.

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The Central Bureau of Statistics has also published the change in home prices (which are not part of the general CPI) between November-December 2023 and December 2023-January 2024. On average, prices rose 1.2%. In the breakdown by region, prices rose by 1.4% in Jerusalem, by 1.5% in Haifa, 1.1% in the north, 1.1% in the center, 1.1% in Tel Aviv, and by 1.8% in the south. Prices of new homes rose by an average of 0.4%.

In the comparison between December 2023- January 2024 and December 2023- January 2024, the index of housing prices fell 0.6%. In the breakdown by region, prices rose by 3.8% in the north, 2.9% in Haifa, 1.6% in the south and 1.1% in Jerusalem. Price fell by 3.7% in Tel Aviv and 1.1% in the central region. Prices fell by 4.4% in Tel Aviv, by 1.3% in Jerusalem, by 0.8% in the central region, and by 0.1% in the south. Prices rose by 3.3% in the northern region and by 0.3% in Haifa. The index of new home prices fell 2.2%.

Published by Globes, Israel business news – en.globes.co.il – on March 15, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

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