Israel Inflation February 2017


Israel: Inflation at over two-year high in February

March 15, 2017

Consumer prices were unchanged in February compared to the previous month (January: -0.2% month-on-month), as a rise in prices for fresh fruit and vegetables was offset by a decline in prices for clothing and footwear.

Inflation came in at 0.4% in in February, which was above January’s 0.1% figure and overshot analysts’ expectation of 0.2% inflation. It marked the second consecutive time since July 2014 that the annual change in consumer prices recorded a positive value. The annual average variation in consumer prices was minus 0.4% in February, a notch above January’s minus 0.5%.

Finally, core inflation, which excludes volatile items such as oil and vegetables, increased 0.1% on an annual basis in February, contrasting January’s 0.2% drop and recording a one-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 February 2017 0

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

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