Israel Inflation December 2017

Israel

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%).

FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, our panel expects inflation to average 1.4%.


Author:, Economist

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Israel Inflation Chart


Israel Inflation December 2017 0

Note: Year-on-year and month-on-month variation consumer price index in %.
Source: Central Bureau of Statistics (CBS).


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