Consumer price index rose by 0.4% in May and Since the beginning of the year the index rose by 1.5%

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by Ifi Reporter Category:Capital Market Jun 15, 2021

Prices continue to rise: The consumer price index rose by 0.4% in May, very close to various forecasts. Since the beginning of the year, the index has risen by 1.5%. This means that for the first time in two years, inflation in Israel - which reflects the rise in the index in the last 12 months - is within the target range (annual inflation of 1% -3%).
Apartment prices, which are not part of the consumer price index, are also rising. Housing prices jumped by 1% in transactions made in March-April 2021, compared with February-March 2021. Since the beginning of the year, housing prices have risen by 5.6% compared to the same period last year (March 2020-April 2020).
The Jerusalem District led the increases in March-April, with a jump of 1.6%. It was followed by the Tel Aviv District with an increase of 1.4%, the Northern and Haifa District (1.2% each) and the Central District (0.9%). In contrast, in the Southern District, prices fell by 0.6%.
The last time inflation in Israel was above 1% - the lower end of the inflation target - was in May 2019, when inflation also reached 1.5%. Since then, especially in the corona crisis, the consumer price index has shown a decline in prices, and now in light of the data of recent months inflation has returned to over 1%. The previous time before 2019 when there was inflation at such a rate is in 2013.
Price increases in Israel are not exceptional, and price increases are being recorded all over the world these days. For example, in the US there was a 13-year high and in May inflation reached a rate of 5%. Over time.
Significant price increases were recorded in the latest index in items with high volatility. Prices of fresh fruit rose by 13.7%, while in the section on fresh vegetables there was a marked decrease of 2.2%. Clothing prices rose by 2.4% and prices for culture and entertainment - areas opened in recent weeks - rose by 1.9%.

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