Israel Inflation June 2021


Israel: Inflation comes in at highest level since December 2013 in June

July 15, 2021

Consumer prices increased 0.10% in June over the previous month, below May's 0.40% rise. June's result marked the softest reading since January. Looking at the details of the release, prices for food rose in June while prices for transportation and communication were largely steady. Meanwhile, education, culture and entertainment price growth moderated. In addition, prices for clothing and footwear dropped.

Inflation ticked up to 1.7% in June, above May’s 1.5%. June's figure was the highest inflation rate since December 2013. The annual average variation of consumer prices was flat in June (May: -0.3%). Core inflation rose to 1.3% in June, from May’s 1.0%.

Looking ahead, inflation should remain in the Bank’s 1.0%–3.0% target range later this year, thanks to a favorable base effect, strong domestic demand and higher international commodity prices.

FocusEconomics panelists see consumer prices rising 1.0% in annual terms in 2021, which is up 0.1 percentage points from last month’s forecast. Our panelists see inflation of 1.1% in 2022.

Author:, Economist

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Israel Inflation Chart

Israel Inflation June 2021

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

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