The January CPI is lower than projections; Home prices rose 3% in 2019
Market expectations for advertising were a negative 0.3%, but the CPI fell 0.4% in January, lower than expected The inflation rate dropped from 0.6% to 0.3% The January index still does not reflect the effects of the corona virus outbreak in China declared as an epidemic Only towards the end of the month
Housing prices completed an annual increase of 3% and inflation fell to 0.3%, according to the Consumer Price Index and the housing price index released today by the Central Bureau of Statistics. The consumer price index fell by 0.4% in January, a lower figure than forecast.
Market expectations for advertising were a negative 0.3%, although some analysts expected the index to be even lower due to a decline in clothing and footwear prices. After the previous update, the annual inflation rate stood at 0.6% (the December index remains unchanged), inflation is now expected to fall to an annual rate of 0.4%. The January index does not yet reflect the effects of the corona virus outbreak in China, which was declared as plague only towards the end of the month.
Notable price declines were recorded in apparel and footwear (6.4%), culture and entertainment (0.8%) and food (0.5%). A notable rise in prices was recorded in fresh vegetables and fruits (3.1%). In the past twelve months (January 2020 versus January 2019), the CPI rose 0.3%.
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Change in the housing market prices (not part of the Consumer Price Index): Comparing transaction prices in November 2019 to December 2019, compared to transaction prices in October 2019-November 2019, it was found that housing prices fell by 0.2%, thus completing a 3.0% increase. The corresponding period last year (November 2018-December 2018).
In the segmentation of housing price changes by districts in November-December compared to October-November, price declines were found in the districts: North and Central 0.4%, each, Jerusalem and Tel Aviv 0.2%, each; In contrast, the Southern District remained unchanged, while the Haifa District rose 0.7%.
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To the full articleHousing prices have risen in all districts compared to last year
In the segmentation of housing price changes by districts compared to the corresponding period last year, November-December compared to November 2018-December 2018, price increases were found in all districts, with the most prominent ones recorded in the districts: Tel Aviv 5.7%, North 3.8% and Haifa 1.8%.
The new housing prices index found that their prices rose by 0.5% in November-December compared to October-November, thus down 3.0% compared to the corresponding period last year (November 2018-December 2018). The percentage of transactions carried out with government support and participating in the calculation is 44.5% compared to 47.8% in the previous period (October-November).
The national average price of a home purchase transaction in the fourth quarter of 2019 was NIS 1.535 million. In the previous quarter, the average price was NIS 1,529 million.