Housing demand improves, but prices decline slightly

ISRAEL - Report 22 Oct 2018 by Jonathan Katz

Despite a slight upward inflation surprise in September, core inflation remained stable at 0.8% m/m. We expect inflation to reach 0.9% NTM, assuming a slightly weaker shekel, wage pressures’ pushing service prices higher (mostly rentals), and stable oil prices. Despite a modest pickup in housing demand, housing purchase prices are down 1.1% y/y.

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