Israel Inflation July 2020

Israel

Israel: Consumer prices fall at softer pace on an annual basis in July

August 14, 2020

Consumer prices increased 0.20% in July over the previous month, following June's 0.10% fall. July's reading marked the sharpest increase in prices since March. The figure was primarily due to rising prices for food. In addition, price pressures for education, culture and entertainment rebounded.

Consumer prices declined 0.6% year-on-year in July, a less pronounced drop compared to June’s 1.1% fall. Meanwhile, the trend pointed down slightly, coming in at minus 0.1% in July (June: 0.0%). Lastly, core consumer prices fell 0.1% on an annual basis in July, which was a smaller fall compared to June's 0.4% decrease.

Price pressures are seen staying subdued on weak activity, and the recent appreciation of the shekel—if maintained—poses a further downside risk to prices.

FocusEconomics panelists see consumer prices declining 0.4% in annual terms in 2020, which is down 0.2 percentage points from last month’s forecast. Our panelists see inflation of 0.9% in 2021.


Author:, Economist

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Israel Inflation Chart


Israel Inflation July 20 20 0

Note: Year-on-year and month-on-month variation consumer price index in %.
Source: Central Bureau of Statistics (CBS).


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