Inflation eases in March from the prior month

Latest reading: Consumer prices were up 1.9% in annual terms in March, following a 2.0% increase in the previous month and below market expectations. March’s figure was comfortably within the Bank of Israel’s 1.0–3.0% target range. Relative to the prior month's figures, there were reduced price pressures for food (+2.1% on a year-on-year basis vs +2.2% in February) and education, culture and entertainment (+0.7% vs +1.3% in February). In contrast, price pressures were higher for transportation and communication in March (+0.7% vs +0.4% in February). Finally, the variation in clothing and footwear prices was the same as in the prior month (-7.8% in March and February). Meanwhile, core consumer prices increased 2.1% on a year-on-year basis in March, following a 2.3% increase in the prior month. Lastly, consumer prices were up 0.39% in March on a month-on-month basis, following a 0.19% increase in the previous month.

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