Israel: Inflation comes in at highest level since December 2023 in April
Inflation came in at 2.8% in April, up from March’s 2.7%. April’s reading marked the highest inflation rate since December 2023 but was still within the Bank of Israel’s 1.0–3.0% target range. Looking at the details of the release, the change in prices for food was largely steady in April. However, prices for transportation and communication rose at a quicker rate.
Annual average inflation ticked down to 3.4% in April (March: 3.6%). Meanwhile, core inflation edged down to 2.5% in April, from March’s 2.6%.
Lastly, consumer prices rose 0.85% in April over the previous month, picking up from March’s 0.57% rise. April’s figure marked the highest reading since July 2022.