Israel: Inflation ticks higher in December, remains below BoI target
January 15, 2018
Consumer prices ticked up 0.1% on a monthly basis in December, contrasting November’s 0.3% decrease. December’s uptick, according to the Central Bureau of Statistics (CBS), was the result of higher prices for clothing and footwear, as well as higher transport prices.
Inflation rose to 0.4% in December (November: 0.3%), marginally beating market analysts’ expectations. Despite December’s acceleration, inflation still remained well below the Central Bank’s 1.0%–3.0% target range. Moreover, annual average inflation was stable from a month earlier at 0.2%—and, once again, the strongest reading in nearly three years.
Meanwhile, core inflation—which excludes energy—ticked down to 0.1% in December (November: 0.2%).
Author: Christopher Thomas, Economist