Israel: Inflation decelerates in November from October
Latest reading: Consumer prices were up 2.4% on a year-on-year basis in November, following a 2.5% rise in the prior month. November’s reading matched market expectations, was within the Bank of Israel’s 1.0–3.0% target range and marked the weakest inflation reading since October 2021.
Relative to the previous month’s figures, there were reduced price pressures for transportation and communication (+1.3% in annual terms vs +1.6% in October) and clothing and footwear (-7.3% vs -6.4% in October). In contrast, price pressures were higher for food in November (+4.2% vs +4.1% in October). Finally, the variation in education, culture and entertainment prices was the same as in the prior month (+2.0% in November and October).
Meanwhile, core consumer prices were up 2.5% in annual terms in November, following a 2.4% rise in the previous month.
Finally, consumer prices declined 0.48% in November in month-on-month terms, following a 0.48% rise in the prior month.