Israel: Inflation falls below the Central Bank’s target range in December
Consumer prices decreased 0.3% over the previous month in December, matching November’s drop in the price level. The result reflected cheaper prices for culture and entertainment; fresh vegetables; transportation; and footwear.
Inflation eased to 0.8% in December from 1.2% in November and fell below the Bank of Israel’s 1.0%–3.0% for the first time in seven months. Annual average inflation was stable at November’s 0.8% in December. Lastly, core inflation, which excludes volatile energy prices, remained stable at for the second consecutive month at 1.0% in December.