Israel Inflation February 2020

Israel: Inflation falls further below target range in February

Consumer prices fell 0.1% over the prior month in February, following January’s 0.4% decline. February’s reading was driven by lower prices for clothing and communication.

Inflation decreased from 0.3% in January to 0.1% in February, moving further below the Bank of Israel’s 1.0%–3.0% target range and likely driven by depressed oil prices. While low oil prices will continue weighing on inflation going forward, the recent large depreciation in the shekel should prop up price pressures somewhat.

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