Israel: Inflation remains above Central Bank’s target in October
Latest reading: Inflation came in at 3.5% in October, unchanged from September’s reading. October’s figure meant that inflation has been above the Bank of Israel’s 1.0–3.0% target range for four straight months. Looking at the details of the release, prices for food increased at a weaker pace in October. However, prices for transportation and communication rose at a stronger rate.
Annual average inflation fell to 3.0% in October (September: 3.1%). Meanwhile, core inflation ticked up to 3.6% in October from the previous month’s 3.5%.
Lastly, consumer prices rose 0.46% in October over the previous month, swinging from September’s 0.18% drop.