Israel: Inflationary pressures are stable in February
Consumer prices increased 0.1% month-on-month in February, contrasting January’s 0.1% price drop. The print reflected significantly pricier fresh fruit while furniture and household equipment also become more expensive. On the other hand, a marked drop in the price level of clothing and footwear limited the overall consumer price index increase.
Inflation, meanwhile, was stable at January’s 1.2% in February, remaining within the Bank of Israel’s 1.0%–3.0% target range for the second month running. Annual average inflation edged up to 1.0% in February from 0.9% in the previous month. Lastly, core inflation, which excludes volatile energy prices, rose to 1.5% in February from 1.4% in January.