Israel: Inflation falls further in July
Consumer prices fell 0.3% in July over the prior month, coming after June’s 0.6% fall and amid lower prices for fresh fruit and vegetables, and clothing and footwear.
Inflation fell sharply to 0.5% in July from 0.8% in June, dropping further below the Bank of Israel’s 1.0%–3.0% target range and marking the lowest reading since May last year. Core inflation, which excludes volatile energy prices, declined from 1.1% to 0.7%. Recent low inflation has likely put any rate hike by the Central Bank on the back burner for the time being.