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 2019 to 2018.
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 declines to lowest level since November 2021 in January

Inflation came in at 2.6% in January, which was down from December’s 3.0%. January's figure marked the lowest inflation rate since November 2021 and the second consecutive month of inflation 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 January compared to the previous month, while price pressures for food and transportation and communication eased. Annual average inflation ticked down to 4.0% in January (December: 4.2%). Meanwhile, core inflation edged down to 2.7% in January, from the previous month's 2.9%. Finally, consumer prices were unchanged in January over the previous month, following December's 0.10% fall. January's uptick was the highest reading since October 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 17 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

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