Israel Inflation

Israel

Israel: Consumer prices mark steepest fall in nearly eight years

February 16, 2015

In January, consumer prices fell 0.9% over the previous month, which was below the flat reading tallied in December and marked the steepest monthly decrease on record. According to the Central Bureau of Statistics (CBS), January’s reading reflected lower prices for food and housing.

Consumer prices fell 0.5% in January over the same month last year, which was below the 0.2% decline registered in December and marked the sharpest fall since June 2007. As a result of January’s decline, annual average inflation continued the downward trend that began in June 2014, falling from 0.5% in December to 0.3% in January, thus reaching the lowest level since November 2007. Core consumer prices, which exclude volatile items such as oil and vegetables, rose 0.1% year-on-year in January, which matched December’s result.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects inflation to average 1.4%.


Author:, Economist

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Israel Inflation Chart


Israel Inflation January 2015

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


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