The Consumer Price Index Rose 0.8% in April 2024

The consumer price index rose 0.8% in April 2024 • Over the last year it rose 2.8% • Notable price increases were recorded in the sections: transportation, clothing, culture and entertainment, housing, and food and apartment maintenance • Notable price declines were recorded in the sections: vegetables and fruit, and furniture and household equipment.

The consumer price index rose 0.8% in April 2024. Over the last twelve months (April 2024 vs April 2023), the consumer price index rose 2.8%.

Notable price increases were recorded in the sections: transportation, which rose 3.4%, clothing, which rose 2.3%, culture and entertainment, which rose 1.6%, housing, which rose 0.6%, and food and apartment maintenance, which rose 0.3%.

Notable price declines were recorded in the sections: vegetables and fruit, which fell 1.3%, and furniture and household equipment, which fell 0.5%.

In monthly rent, tenants who renewed their contracts saw an increase of 2.3%, and new tenants (sample apartments where there was a change of tenant) saw an increase of 2.2%.

Residential construction input price index:
The residential construction input price index fell 0.1% in April 2024 and reached 130.1 points, compared with 130.2 points the previous month (base: July 2011 = 100.0 points). Since the beginning of the year, this index has risen 0.2%. The residential construction input price index excluding labor wages fell 0.3%.

Over the last 12 months (April 2024 vs April 2023), the residential construction input price index rose 0.6%, due to a 1.6% rise in labor wage prices.

Prices of materials and products.
The materials and products price index fell 0.4% in April 2024
Among materials and products, prices fell especially for imported concrete (1.7%), construction iron (1.2%), iron mesh (1.1%), stone (1.7%) and gravel (1.6%), and another item fell 2.9%.

Wages
The wage price index for employees in the industry rose 0.4% in April 2024.

The industrial production price index for local destinations:
The industrial production price index for local destinations rose 1.6% in April 2024 compared with March 2024 and reached a level of 124.1 points, compared with 122.2 points the previous month (base: 2020 average = 100.0).

The index excluding fuels rose 1.5% in April 2024 compared with March 2024 and reached a level of 116.5 points, compared with 114.8 points the previous month (base: 2020 average = 100.0).

Over the last 12 months (April 2024 vs April 2023), the industrial production price index for local destinations rose 1.6% and the index excluding fuels rose 0.9%.
This month, prices rose for computers, electronic and optical equipment (3.9%), refined petroleum products (2.6%) and food products (2.3%). By contrast, prices of paper and paper products fell (1.1%).

The price index for extractive industries for local destinations rose 1.9% in April 2024 compared with March 2024 and reached a level of 111.7 points, compared with 109.6 points the previous month (base: 2020 average = 100.0). Over the last 12 months (April 2024 vs April 2023) the index fell 2.1%.

The apartment market
Change in housing market prices (not part of the consumer price index).
Comparing the prices of transactions made in February - March 2024 with the prices of transactions made in January - February 2024, it was found that:
(1) Apartment prices rose 0.9%.
(2) By district, the following price changes were recorded: Jerusalem (0.8%), North (0.8%), Haifa (1.7%), Center (-0.5%), Tel Aviv (2.2%) and South (0.6%).
(3) Prices of new apartments rose 0.5%.

An annual comparison of the prices of transactions made in February - March 2024 with the prices of transactions made in February - March 2023 shows that:
(1) The annual housing price index rose 1.1%.
(2) By district, price increases occurred in the following districts: Haifa (4.6%), South (4.3%), Jerusalem (1.9%), North (1.0%) and Tel Aviv (0.4%). By contrast, a price decline was recorded only in the Center district (0.4%).
(3) The annual new apartment price index fell 1.6%.

In the first quarter of 2024, the average price nationwide was NIS 2,233.4 thousand, an increase of 3.1% over the average price of the previous quarter (NIS 2,166.9 thousand).