Israel

Israel Inflation June 2022

Israel: Inflation comes in at highest level since November 2008 in June

Consumer prices increased 0.38% in June over the previous month, which was below the 0.57% rise logged in May. The result was primarily due to a more moderate rise in prices for food. Moreover, prices for clothing and footwear dropped.

Despite the softer month-on-month price rise, inflation came in at 4.4% in June, which was up from May’s 4.1%. June’s figure marked the highest inflation rate since November 2008 and was well above the Central Bank’s 1.0–3.0% target range. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.1% in June (May: 2.8%). Finally, core inflation rose to 3.9% in June, from May’s 3.8%.

On top of higher international commodity prices, recent inflation in Israel has being driven by the marked depreciation of the shekel in recent months and a tight domestic labor market. That said, price pressures remain mild relative to most other developed economies due to a limited reliance on energy imports.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest