Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Israel
Consumer price inflation in Israel averaged 1.3% in the ten years to 2024, in line with the Middle East & North Africa regional average of 5.9%. The 2024 average figure was 3.1%. For more information on inflation, visit our dedicated page.
Israel Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Israel from 2014 to 2025.
Source: Macrobond.
Israel Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -0.6 | 1.5 | 4.4 | 4.2 | 3.1 |
| Inflation (CPI, ann. var. %, eop) | -0.7 | 2.8 | 5.3 | 3.0 | 3.2 |
| Inflation (WPI, ann. var. %, eop) | -4.3 | 11.0 | 9.0 | 0.3 | -0.8 |
Inflation decelerates in September from August
Latest reading: Consumer prices rose 2.5% in annual terms in September, following a 2.9% rise in the previous month and within the Bank of Israel’s 1.0–3.0% target range. The September reading was below market expectations. Relative to the prior month's figures, there were reduced price pressures for food (+3.0% on a year-on-year basis vs +3.5% in August) and education, culture and entertainment (+2.8% vs +3.8% in August). In contrast, there were higher price pressures for transportation and communication (+2.5% vs +2.3% in August) and clothing and footwear (-5.9% vs -6.7% in August). Meanwhile, core consumer prices were up 2.6% in annual terms in September, following a 3.1% rise in the previous month. Finally, consumer prices declined 0.58% in September in month-on-month terms, following a 0.68% increase in the prior month.
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 21 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 info@focus-economics.com.
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