Latest reading: Consumer prices were flat year on year in June, contrasting May’s 0.1% year-on-year decline and market expectations for...
Inflation in Israel
Consumer price inflation in Israel averaged 1.3% in the ten years to 2024, in line with the Middle East & North Africa regional average of 5.9%. The 2024 average figure was 3.1%. For more information on inflation, visit our dedicated page.
Israel Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Israel from 2024 to 2023.
Source: Macrobond.
Israel Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -0.6 | 1.5 | 4.4 | 4.2 | 3.1 |
| Inflation (CPI, ann. var. %, eop) | -0.7 | 2.8 | 5.3 | 3.0 | 3.2 |
| Inflation (WPI, ann. var. %, eop) | -4.3 | 11.0 | 9.0 | 0.3 | -0.8 |
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.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Israeli inflation projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Israeli inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Israeli inflation projections.
Want to get access to the full dataset of Israeli inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
-
Switzerland: Consumer prices are unchanged in June -
Peru: Inflation remains muted in June Latest reading: Inflation came in at 1.7% in June, matching May’s result and in line with the Central Bank’s 1.0–3.0%... -
Kazakhstan: Inflation increases to a near two-year high in June Latest reading: Inflation rose to 11.8% in June, above May’s 11.3%, marking the highest inflation rate since August 2023, and... -
Kenya: Inflation flatlines below midpoint of the target range in June Latest reading: Inflation was stable at May’s 3.8% in June, remaining below the midpoint of the Central Bank’s 2.5–7.5% target... -
Australia: Inflation nears target floor in May Latest reading: Inflation dropped to 2.1% in May after having stood at 2.4% for a third consecutive month in April.... -
Hong Kong: Inflation moderates in May Latest reading: Inflation fell to 1.9% in May from April’s 2.0%, due to weaker price pressures for food, transport and... -
Canada: Inflation remains on target in May Latest reading: Inflation came in at 1.7% in May, matching April’s reading and market expectations, and comfortably within the Central...