CPI Up 0.1% In Israel in June, Cost of Homes Increases

CPI Up 0.1% In Israel in June Israel’s Central Bureau of Statistics reported that the country’s Consumer Price Index (CPI) increased 0.1% in June 2024 compared to May 2024. It was 107.2 points compared to 107.1 points in the previous month (base: average 2022 = 100.0 points).

The CPI excluding vegetables and fruit and the CPI excluding energy increased 0.2%, each and were 107.1 and 107.0 points, respectively. In contrast, the CPI excluding housing decreased 0.2% and was 106.5 points.

Prices of the following groups increased in particular: culture and entertainment 1.2%, housing 0.5%, food and dwelling maintenance 0.3%, each.

Prices of the following groups decreased in particular: fresh vegetables and fruit 2.5% transport and communication 0.4%, furniture and household equipment 0.3% and health 0.2%.

Since the start of the year the CPI and the CPI excluding housing increased 2.1%, each, the CPI excluding fruit and vegetables increased 2.2% and the CPI excluding energy increased 1.9%.

Over the past 12 months (June 2024 compared to June 2023) the CPI increased 2.9%, the CPI excluding housing increased 2.8%, the CPI excluding vegetables and fruit and the CPI excluding energy increased 2.7%, each.

In May 2024 the seasonally adjusted CPI increased 0.2%. The seasonally adjusted CPI excluding housing and the seasonally adjusted CPI excluding vegetables, fruit and housing increased 0.1%, each.

Based on the trend data for the period March 2024 – June 2024, the annual pace of increase in the CPI was 3.1%, the annual pace of increase in the CPI excluding housing and the annual pace of increase in the CPI excluding vegetables, fruit and housing was 2.6%, each.

Israel Sees Increases in Cost of Homes Israel’s Central Bureau of Statistics reported that a comparison of the transaction prices in the current period, to the transaction prices in the same period last year, i. e., April – May 2024 compared to April– May 2023, shows that dwelling prices increased by 3.4%.

Dwellings Price Indices by Districts (quality-adjusted price changes) A comparison of the transaction prices in April – May 2024 to the transaction prices in March – April 2024, shows that the prices of dwellings by districts changed as follows: Jerusalem (2.1%), Northern (0.6%), Haifa (0.7%), Central (0.0%), Tel Aviv (1.2%) and Southern (0.2%).

A comparison of the transaction prices in the current period, to the transaction prices in the same period last year, i. e April – May 2024 compared to April – May 2023, shows the prices increase in all districts: Haifa (8.3%), Northern (4.9%) Southern (3.6%), Jerusalem (2.9%), Tel-Aviv (2.6%) and Central (2.3%).

Newly-built Dwellings Price Index (quality-adjusted price changes) A comparison of the transaction prices of newly-built dwellings in April – May 2024 to the transaction prices in March – April 2024 shows that newly-built dwelling prices decrease by 0.5%.

Government-supported transactions that are included in the calculation of the newly-built dwellings price index decreased constituting 19.9% of the number of new dwelling transactions, compared to 20.1% in the previous period.

Additional estimation shows that excluding government-supported transactions, the newly-built dwelling price index increased by 0.1%.