Israel: Inflation increases in March
Inflation inched up to 2.7% in March, following February’s 2.5%. March’s reading represented the highest inflation rate since December 2023, but was still within the Bank of Israel’s 1.0–3.0% target range. Looking at the details of the release, education, culture and entertainment prices rose at a quicker pace in March compared to the previous month, while price pressures for transportation and communication also picked up pace.
Annual average inflation fell to 3.6% in March (February: 3.8%). Meanwhile, core inflation ticked up to 2.6% in March, from February’s 2.5%.
Lastly, consumer prices rose 0.57% in March over the previous month, picking up from the 0.38% increase seen in February and slightly above market expectations. March’s uptick marked the highest reading since April 2023.