Israel: Inflation inches up in May but remains below the Central Bank's target range
June 15, 2018
Compared to the prior month, consumer prices in Israel increased 0.5% in May. The result, fractionally up from April’s 0.4% month-on-month increase, reflected a pick-up in prices for fresh vegetables and fruit; clothing and footwear; and, culture and entertainment.
Inflation also came in at 0.5%, edging up from the prior month’s 0.4%. The print marked the ninth consecutive month of positive annual changes in consumer prices, although inflation remained well below the Bank of Israel’s 1.0%—3.0% target range. Annual average inflation was stable at the prior month’s 0.1% in May.
Finally, core inflation—which excludes volatile energy prices—picked up from 0.2% in April to 0.4% in May.
Author: Jan Lammersen, Economist