Israel Inflation March 2017


Israel: Inflation at almost three-year high in March

April 14, 2017

Consumer prices in Israel grew 0.3% in March compared to the previous month (January: 0.0% month-on-month), mainly due to higher prices for clothing and footwear, culture and entertainment and housing.

Inflation came in at 0.9% in March, which was above February’s 0.4% figure and overshot analysts’ expectation of 0.7% inflation. It marked the highest reading since May 2014. The annual average variation in consumer prices was minus 0.3% in March, a notch above February’s minus 0.4%.

Finally, core inflation, which excludes volatile items such as oil and vegetables, increased 0.6% on an annual basis in March, following February’s 0.1% rise and recording a one-and-a-half-year high.

FocusEconomics Consensus Forecast panelists expect inflation of 0.7% in 2017, which is unchanged from the previous month’s forecast. For 2018, the panel expects inflation to average 1.6%.

Author: Marlène Rump, Senior Data Analyst

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Israel Inflation Chart

Israel Inflation March 2017

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

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