Israel: Inflation remains within the Central Bank's target range in October
November 15, 2018
Consumer prices rose 0.3% over the previous month in October, accelerating from September’s 0.1% increase. The print came on the back of higher prices for clothing; recreation, holidays and trips; and bathing products and cosmetics.
Inflation was stable at 1.2% in October, remaining within the Bank of Israel’s 1.0%–3.0% target range for the fifth consecutive month. Annual average inflation edged up from 0.6% in September to 0.7% in October, the highest reading in nearly four years.
Lastly, core inflation—which excludes volatile energy prices—inched up to 1.0% in October from 0.9% in September.
Israel Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2019, which is unchanged from last month’s forecast. For 2020, our panel sees inflation averaging 1.5%.
Author: Jan Lammersen, Economist