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.