Israel Inflation August 2021


Israel: Inflation comes in at highest level since November 2011 in August

September 15, 2021

Consumer prices increased 0.30% from the previous month in August, below July's 0.39% rise. The moderation was largely due to falling prices for food. In addition, price pressures for transportation and communication moderated.

Inflation came in at 2.2% in August, which was up from July’s 1.9%. August's reading was the highest inflation rate since November 2011. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 0.4% in August (July: 0.2%). Finally, core inflation ticked up to 1.9% in August, from July’s 1.7%.

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 1.1% 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 August 2021

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

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