Inflation in Israel
Israel - Inflation
Consumer prices fall at softer pace on an annual basis in July
Consumer prices increased 0.20% in July over the previous month, following June's 0.10% fall. July's reading marked the sharpest increase in prices since March. The figure was primarily due to rising prices for food. In addition, price pressures for education, culture and entertainment rebounded.
Consumer prices declined 0.6% year-on-year in July, a less pronounced drop compared to June’s 1.1% fall. Meanwhile, the trend pointed down slightly, coming in at minus 0.1% in July (June: 0.0%). Lastly, core consumer prices fell 0.1% on an annual basis in July, which was a smaller fall compared to June's 0.4% decrease.
Price pressures are seen staying subdued on weak activity, and the recent appreciation of the shekel—if maintained—poses a further downside risk to prices.
FocusEconomics panelists see consumer prices declining 0.4% in annual terms in 2020, which is down 0.2 percentage points from last month’s forecast. Our panelists see inflation of 0.9% in 2021.
Israel - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | -0.6 | -0.5 | 0.2 | 0.8 | 0.8 |
Israel Inflation Chart
Source: Central Bureau of Statistics and FocusEconomics calculations.
Israel Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.98 | -1.69 % | Jan 01 |
| Exchange Rate | 3.46 | -0.37 % | Dec 31 |
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Economic News
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Israel: Bank of Israel keeps rates unchanged in August
August 24, 2020
At its 24 August meeting, the Bank of Israel (BoI) left the policy rate at 0.10%, as expected. The decision was likely driven by a desire to assess the impact of past easing, which has consisted of a 15-basis-point policy cut and less conventional measures such as bond purchases, credit schemes and changes to macroprudential regulations.
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Israel: Composite State of the Economy Index records first expansion for six months in July
August 23, 2020
The Bank of Israel’s Composite State of the Economy Index increased 0.15% month-on-month in seasonally-adjusted terms in July, which contrasted June’s 0.04% contraction.
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Israel: Manufacturing PMI recovers markedly in July
August 19, 2020
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), increased from 45.0 in June to 49.8 in July, but remained slightly below the neutral 50-mark signaling worsening operating conditions.
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Israel: GDP records largest fall on record in Q2, only mild recovery expected for Q3
August 16, 2020
GDP contracted at a quicker pace of 28.7% in seasonally-adjusted annualized terms (SAAR) in the second quarter, below the 6.8% contraction logged in the first quarter and marking the worst reading on record.
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Israel: Consumer prices fall at softer pace on an annual basis in July
August 14, 2020
Consumer prices increased 0.20% in July over the previous month, following June's 0.10% fall.
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