The consumer price index rose by 0.1% in November, thus bringing the inflation rate to 5.3% for the past 12 months – this is what the Central Bureau of Statistics announced this evening (Thursday).
Notable price increases were recorded in housing (0.6%), apartment maintenance (0.3%) and food (0.2%). On the other hand, noticeable price decreases were recorded in the categories of fresh vegetables and fruits (-4.3%), footwear (-1.5%) and furniture and home equipment (-0.3%).
The rent section, excluding public rent, increased by 0.5%. Tenants who renewed a contract saw an increase of about 4.2% in the monthly rent, and for new tenants (apartments in the CBS sample where there was a change of tenant) there was an increase of about 8.1%.
The input price index in residential construction decreased by 0.2% in the month of November 2022 and in the last 12 months (November 2022 compared to November 2021) the input price index in residential construction increased by 5%, due to the increase in the prices of materials and products by 9.3%. 5.1% and in wage prices by 1.0%.
Among the materials and products, the prices of finished products made of wood and other materials (by 4.8%), wall and floor tiles (by 2.4%), wood for construction (by 2.3%), marble (by 1.9%) and outdoor facilities ( by 0.9%).
On the other hand, the prices of elevators (by 1.5%) and the prices of concrete blocks, maitung and gypsum and other concrete products increased (by 1.0% each). The wage price index paid for those employed in the industry rose by 0.1% in November.
Apartment prices continued to rise
Comparing the prices of the transactions carried out in the months of September-October compared to the prices of the transactions carried out in the months of August-September, it was found that the prices of apartments increased by 1.2%, thus completing a 20.3% increase compared to the corresponding period last year (September-October 2021). It should be noted that this is the highest annual price increase in a decade.
In the segmentation of apartment price changes by district in the months of September – October 2022 compared to the months of August – September 2022, the following price changes were recorded: Jerusalem (-0.1%), North (1.2%), Haifa (1.1%), Center (1.9%), Tel Aviv (1.1%) and South (1.6%).
Compared to the corresponding period last year, September-October 2022, compared to September-October 2021, price increases were recorded in all districts: Center (22.5%), North (22.5%), Tel Aviv (19.9%), Haifa (19.9%), South (18.7 %) and Jerusalem (16.6%).