Israel: Inflation reaches Bank of Israel's target range for the first time in over four years
July 15, 2018
Consumer prices in Israel rose marginally in June over the prior month, increasing 0.1%. The print came in below May’s 0.5% month-on-month rise and reflected a strong increase in the price for fresh vegetables being offset by a marked drop in prices for clothing and footwear, and fresh fruit.
Inflation jumped from 0.5% in May to 1.3% in June. June marked the tenth consecutive month of positive annual changes in consumer prices, with inflation reaching the Bank of Israel’s 1.0%—3.0% target range for the first time since May 2014. Annual average inflation edged up to 0.2% in June from 0.1% in May.
Finally, core inflation—which excludes volatile energy prices—jumped from 0.4% in May to 1.0% in June.
Author: Jan Lammersen, Economist