Israel: Inflation rises but remains below the Central Bank’s target range
In April, consumer prices in Israel rose 0.4% over the prior month, slightly higher than March’s 0.3% month-on-month increase, according to the Central Bureau of Statistics. The pick-up in prices reflected higher prices for fresh vegetables and fruit, as well as for clothing and footwear.
Inflation came in at 0.4%, above the prior month’s reading of 0.2%. The result matched market expectations and marked the eighth consecutive month of positives annual changes in consumer prices; however, inflation remained below the Central Bank’s 1.0%—3.0% target range. Furthermore, annual average inflation edged down from 0.2% in March to 0.1% in April.
Lastly, core inflation—which excludes volatile energy prices—was stable at the prior month’s print of 0.2% in April.