Israel: Inflation remains within the Central Bank's target range in August
September 14, 2018
In August, consumer prices edged up 0.1% over the previous month, contrasting July’s flat reading. The result came on the back of higher prices for culture and entertainment negating the effects of lower prices for fresh vegetables and fruit, clothing and footwear, and communication.
Inflation moderated from 1.4% in July to 1.2% in August, although it remained within the Bank of Israel’s 1.0%–3.0% target range for the third consecutive month. Annual average inflation inched up to 0.5% in August from 0.4% in July.
Lastly, core inflation—which excludes volatile energy prices—edged down to 0.9% in August from July’s 1.0%.
Isreal Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 0.7% in 2018, which is unchanged from last month’s forecast. For 2019, our panel sees inflation averaging 1.3%.
Author: Jan Lammersen, Economist