Israel

Israel Inflation

Israel Inflation

Inflation in Israel

Consumer price inflation in Israel averaged 0.8% in the ten years to 2022, below the regional average of 5.4% in the Middle East & North Africa. The 2022 average figure was 4.4%. For more inflation information, visit our dedicated page.

Israel Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Israel from 2014 to 2023.
Source: Central Bureau of Statistics Israel.

Israel Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 0.8 0.8 -0.6 1.5 4.4
Inflation (CPI, ann. var. %, eop) 0.8 0.6 -0.7 2.8 5.3
Inflation (WPI, ann. var. %, eop) 1.4 -1.2 -4.3 11.0 9.0

Inflation increases in March

Inflation inched up to 2.7% in March, following February’s 2.5%. March's reading represented 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, education, culture and entertainment prices rose at a quicker pace in March compared to the previous month, while price pressures for transportation and communication also picked up pace. Annual average inflation fell to 3.6% in March (February: 3.8%). Meanwhile, core inflation ticked up to 2.6% in March, from February’s 2.5%. Lastly, consumer prices rose 0.57% in March over the previous month, picking up from the 0.38% increase seen in February and slightly above market expectations. March's uptick marked the highest reading since April 2023.

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 19 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.

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