Israel Inflation June 2023

Israel: Inflation moderates in June

Inflation came in at 4.2% in June, down from May’s 4.6%. June’s figure represented the weakest inflation rate since May 2022, but was still above the Central Bank’s 1.0–3.0% target range. The result was driven by moderating price pressures for transportation and communication and education, culture and entertainment.

In addition, the trend pointed down slightly, with annual average inflation coming in at 4.9% in June (May: 5.0%). Meanwhile, core inflation edged down to 4.5% in June, from May’s 4.7%.

Finally, consumer prices were flat from the previous month in June, below the 0.19% rise logged in May and below market expectations. June’s result marked the weakest reading since August 2022.

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