Israel Inflation May 2018


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.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.7% in 2018, which is unchanged from last month’s forecast. For 2019, our panel expects inflation to average 1.3%.

Author:, Economist

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Israel Inflation Chart

Israel Inflation May 2018

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

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