Israel: Inflation ticks up in February
March 15, 2018
Consumer prices increased 0.1% on a month-on-month basis in February, contrasting January’s 0.5% decline. February’s rebound, according to the Central Bureau of Statistics (CBS), was the result of higher prices for vegetables and fruits, and transportation and communication.
Inflation inched up to 0.2% in February (January: 0.1%), coming in just above the 0.1% increase that market analysts had expected. Despite February’s acceleration, inflation remains far below the Bank of Israel’s 1.0%–3.0% target range. Meanwhile, annual average inflation came in at 0.2% for the fourth consecutive month.
Moreover, core inflation—which excludes volatile energy prices—inched down to 0.1% in February from 0.2% in January.
Author: Javier Colato, Economist