Israel: Inflation declines to lowest level since June 2024 in May
Latest reading: Inflation came in at 3.1% in May, down from April’s 3.6%. May’s figure represented the weakest inflation rate since June 2024. The decline was broad-based, with lower price pressures recorded for food, transportation and communication, and education, culture and entertainment. Moreover, prices for clothing and footwear dropped.
Annual average inflation remained at April’s 3.4% in May. Meanwhile, core inflation fell to 3.4% in May from the previous month’s 3.9%.
Lastly, consumer prices dropped 0.29% over the previous month in May, contrasting the 1.08% increase recorded in April. May’s result marked the weakest reading since November 2024.