Consumer prices in Israel rose by 0.4% in March, data shows

Consumer prices in March rose from the previous month, led by increases in the costs of fresh vegetables, travel and housing, according to data released by the Central Bureau of Statistics.

On a monthly basis, the consumer price index (CPI) — a measure of inflation that tracks the average cost of household goods — rose in March by 0.4% from February. Average analysts’ expectations were for a 0.5% increase.

The monthly reading takes annual inflation over the past 12 months to 1.9%, which is well within the government’s annual target range of between 1% and 3%.

In March, notable increases were seen in the costs of fresh vegetables, which were up 5.2%, clothing rose by 3%, housing by 0.5% and transportation by 0.4%.

Rents on renewal of contracts soared 2.2%, and rents on contracts for new tenants jumped 5.9%.

These were offset by declines in the prices of furniture and home furnishings and miscellaneous items, which slipped by 0.3% each.