The Central Bureau of Statistics published today (Monday) the consumer price index for the month of April. According to the price index report, an increase of 0.8% was recorded, while in the last twelve months (April 2023 vs. April 2022) the index rose by 5.0%.

Notable price increases were recorded in the categories of fresh vegetables and fruits, which increased by 4.0%, transportation, which increased by 2.5%, clothing and footwear, which increased by 1.9%, culture and entertainment, which increased by 1.8%, housing, which increased by 0.5%, and food, which increased by 0.4%.

Notable price decreases were recorded in the apartment maintenance items, which decreased by 0.5%, and furniture and home equipment, which decreased by 0.2%.

Rent

The rent section without public rent increased by 0.3%. In the monthly rent, for the tenants who renewed a contract, an increase of about 3.6% was recorded and for the new tenants (apartments in the sample where there was a change of tenant) an increase of about 9.0% was recorded.

In the first quarter of 2023, free rent, average nationwide, was 4,368.3 shekels, an increase of 1.4% compared to the average free rent, in the previous quarter (4,306.6 shekels).

Input price index in residential construction

The input price index in residential construction increased by 0.3% in April 2023. In the last 12 months (April 2023 vs. April 2022) the input price index in residential construction increased by 3.0%, this is mainly due to the 5.4% increase in the prices of materials and products and in wage prices The work at 1.5%.

Among the materials and products, the prices of other concrete products (by 3.8%), elevators (by 3.4%), iron for construction (by 2.3%), other metal products (by 1.9%) and industrialized partitions (by 1.7%) increased in particular. . In contrast, the prices of iron chains decreased by 1.0%.

The wage price index paid for those employed in the industry increased by 0.5% in April 2023.

The price index of industrial output for local destinations

The price index of the industrial output for local destinations increased by 0.2% in April 2023. In the last 12 months (April 2023 vs. April 2022) this index decreased by 0.8%.

This month the prices of clothing products increased (by 3.7%), furniture (by 2.1%), electrical equipment (by 1.5%) and food products (by 1.0%). In contrast, the prices of refined petroleum products (by 1.2%) and chemicals and their products (by 1.3%) decreased.

Apartment building (Photo: Nati Shohat, Flash 90)

Change in housing market prices

From the comparison of the prices of the transactions carried out in the months of February – March 2023, compared to the prices of the transactions carried out in the months of January – February 2023, it was found that the prices of the apartments remained unchanged.

In addition, it was found that in the segmentation by districts, the following price changes were recorded: Jerusalem (0.4%), North (0.8%), Haifa (0.7%), Center (-0.1%), Tel Aviv (-0.3%) and South (-0.2%) ).

The prices of new apartments increased by 0.1%.

An annual comparison of the prices of the transactions carried out in the months of February – March 2023 compared to the prices of the transactions carried out in the months of February – March 2022 shows that the annual apartment price index increased by 11.0%.

Segmented by districts, the following changes in annual prices were recorded: North (15.2%), Haifa (12.9%), Center (11.9%), Tel Aviv (9.8%), Jerusalem (9.5%) and South (7.9%).

In the first quarter of 2023, the average price nationwide was NIS 1,969.8, an increase of 1.0% compared to the average price in the previous quarter (NIS 1,951.0).

On behalf of the president of the Federation of Crafts and Industry, Mr. Yossi Alkobi, it was said: "The government has lost control over the level of prices in the economy. The high cost of production brings more and more businesses to the brink of economic unviability and the risk of collapse. Small business owners in the economy are required to deal with increasing operating costs and financing costs, some of which will be transferred to the consumer's pocket. The way to a real price reduction in the economy is through a government program that includes, among other things, reducing regulation, property tax rates, reducing centralization in the economy and handling the non-marketable services controlled by the government, such as port, electricity and water tariffs."