In November, the consumer price index rose by 0.1%, in accordance with the expectations of economists in the economy. Since the beginning of the year the index has increased by 5% and in the last twelve months (November 2022 compared to November 2021) it has increased by 5.3%.
Prominent price increases in November were recorded in housing which increased by 0.6%, apartment maintenance which increased by 0.3% and food which increased by 0.2%. On the other hand, notable price decreases were recorded in fresh fruit and vegetables sections which decreased by 4.3%, footwear which decreased by 1.5% and furniture and home equipment which decreased by 0.3%.
The rent section without public rent increased by 0.5%. It should be noted that in the monthly rent, for the tenants who renewed a contract there was an increase of about 4.2% and for new tenants (apartments in the sample where there was a change of tenant) there was an increase of about 8.1%.
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A slight decrease in the input price index for residential construction
The residential construction input price index decreased by 0.2% in November. However, since the beginning of the year the index rose by 4.8%. 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%, car equipment rental by 5.1% and labor wages by about 1%.
Apartment prices continue to climb
From the comparison of the prices of the transactions carried out in the months of September-October 2022 compared to the prices of the transactions carried out in the months of August-September 2022, it was found that the prices of apartments increased by 1.2% and thus completed an increase of 20.3% 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 districts in the months of September-October compared to the months of August-September, the following price changes were recorded: a decrease of 0.1% in the Jerusalem District, an increase of 1.2% in the North District, an increase of 1.1% in Haifa, of 1.9% in the Central District, of 1.1% in Tel Spring and an increase of 1.6% in the southern district.
Compared to the corresponding period last year (September-October 2022 compared to September-October 2021), price increases were recorded in all districts: Central (22.5%), North (22.5%), Tel Aviv (19.9%), Haifa (19.9%), South (18.7 %) and Jerusalem (16.6%).