Inflation in Israel
Israel - Inflation
Inflation comes in at highest level since November 2011 in August
Consumer prices increased 0.30% from the previous month in August, below July's 0.39% rise. The moderation was largely due to falling prices for food. In addition, price pressures for transportation and communication moderated.
Inflation came in at 2.2% in August, which was up from July’s 1.9%. August's reading was the highest inflation rate since November 2011. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 0.4% in August (July: 0.2%). Finally, core inflation ticked up to 1.9% in August, from July’s 1.7%.
Inflation should remain in the Bank’s 1.0%–3.0% target range later this year, thanks to a favorable base effect, strong domestic demand and higher international commodity prices.
FocusEconomics panelists see consumer prices rising 1.1% in annual terms in 2021, which is up 0.1 percentage points from last month’s forecast. Our panelists see inflation of 1.1% in 2022.
Israel - Inflation Data
|Inflation Rate (CPI, annual variation in %)||-0.6||-0.5||0.2||0.8||0.8|
5 years of economic forecasts for more than 30 economic indicators.
Israel Inflation Chart
Source: Central Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||0.98||-1.69 %||Jan 01|
|Exchange Rate||3.46||-0.37 %||Dec 31|
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October 7, 2021
At its 14 October meeting, the Bank of Israel (BoI) left the policy rate at 0.10%. The decision to keep rates stable at their current low level was likely driven by continued uncertainty over the economic outlook, due to the possibility of further waves of Covid-19.
October 6, 2021
The Bank of Israel’s Composite State of the Economy Index grew 0.28% in month-on-month seasonally-adjusted terms in August, which was above July's 0.21% increase.
September 16, 2021
The Manufacturing Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the IPLMA came in at 54.1 in August, up from July's 46.8.
September 15, 2021
Consumer prices increased 0.30% from the previous month in August, below July's 0.39% rise.
September 15, 2021
Merchandise exports jumped 23.5% year-on-year in August (July: +33.7% year-on-year).