Israel’s Consumer Price Index (CPI) has surprised the analysts for the second successive month as inflation seems to be back. The CPI rose 0.3% in February 2021, the Central Bureau of Statistics reports, higher than the economists’ consensus of 0.1%. In January the CPI fell 0.1% while the economists had predicted a 0.3% fall.

Over the past 12 months, the CPI is unchanged and since the start of the year the CPI is up 0.2%.

There were significant price rises in February in fresh fruit (5.7%), clothing (1.2%) and transport (0.7%). There were significant price falls in fresh vegetables (1.9%), and footwear (1.7%).

The housing prices index, which is separate from the CPI, continued to rise in the period December-January, in comparison with November-December, climbing by 0.9%, after rising 1.9% over the previous two months. Housing prices have risen 4.3% over the past 12 months.

During December-January compared with November-December, housing prices in the north rose 1.6%, in Tel Aviv 1.3%, in Haifa 1.15%, in the south 0.8%, in Central Israel 0.3%, and in Jerusalem 0.3%.

Over the past 12 months prices have risen 6% in the north, in Tel Aviv 5.2%, in central Israel 3.5%, in the south 3.4%, in Jerusalem 3.2%, and in Haifa 1.7%.

Published by Globes, Israel business news – en.globes.co.il – on March 15, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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