Israel Inflation November 2019

Israel: Inflation stays well below the Central Bank’s target in November

Consumer prices fell 0.4% in November over the prior month, contrasting October’s 0.4% increase. November’s reading was driven by lower prices for fresh fruit and vegetables, footwear and transport.

Inflation edged down to 0.3% in November from 0.4% in October, remaining below the Bank of Israel’s 1.0%–3.0% target range for the sixth straight month. Core inflation, which excludes volatile energy prices, fell to 0.6% from 0.7%. Recent low inflation comes on the back of weak oil prices and a strong currency, and leaves the door open to monetary easing in 2020.

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