Israel Inflation April 2021

Israel: Inflation comes in at highest level since June 2019 in April

Consumer prices rose 0.30% in April over the previous month, moderating from March’s 0.60% rise. The result was driven by moderating price pressures for transportation and communication and education, culture and entertainment. In addition, prices for clothing and footwear grew at a more subdued pace.

Inflation increased to 0.8% in April from March’s 0.2%, partly supported by a favorable base effect. April’s figure represented the highest inflation rate since June 2019. The annual average variation of consumer prices rose to minus 0.5% in April (March: -0.6%). Lastly, core inflation rose to 0.3% in April, from March’s 0.2%.

Looking ahead, inflation should rise back to the lower part of 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.

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