Inflation in Israel continues to soar and approaches the upper range of the Bank of Israel's target of 3%:
the consumer price index rose by 0.3% in December 2021, above market expectations ranging from 0.2-0.1%, thus completing an annual increase of 2.8% in 2021 as a whole.
Meanwhile, the real estate market continues to boil. From comparing the prices of transactions made in October 2021 - November 2021 compared to the prices of transactions made in September 2021 - October 2021, it was found that housing prices rose by 1.4%, thus completing an increase of 10.6% compared to the same period last year. (October 2020 - November 2020).
Data from the Central Bureau of Statistics published this afternoon show that significant price increases in December were recorded in clothing and footwear, which rose 1.1%, housing, which rose by 0.8%, furniture and household equipment, which rose by 0.7% and food, which rose by 0.5%.
Significant price decreases were recorded in the items of fresh vegetables and fruits which decreased by 2.7% and culture and entertainment which decreased by 0.8%.
Supermarket in Tel Aviv, Photo: Gideon Markovich
In the segmentation of price changes by dwellings by districts in October 2021 - November 2021 compared with September 2021 - October 2021, price increases were recorded in the following districts: Tel Aviv 2.8%, Jerusalem 2.1%, Haifa 1.1%, South 0.9% and Central 0.5%;
In contrast, prices in the northern districts fell by 0.4%.
In segmenting the changes in apartment prices by district compared to the corresponding period last year, October 2021 - November 2021 compared to October 2020 - November 2020, price increases were recorded in all districts: Jerusalem 12.3%, Tel Aviv 10.7%, Central 10.5%, Haifa 10.5%, South 9.9% and North 7.1%.
In the price index of new dwellings, it was found that their prices increased by 2.4% in October 2021 - November 2021 compared with September 2021 - October 2021, thus completing an increase of 11.5% compared to the corresponding period last year (October 2020 - November 2020).
The percentage of transactions carried out with government support and participated in the calculation is 23.6%, compared with 24.5% in the previous period (September 2021 - October 2021).
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