Inflation rises in February from January

Latest reading: Consumer prices rose 2.0% in annual terms in February, following a 1.8% increase in the previous month and well within the Bank of Israel’s 1.0–3.0% target range. Relative to the prior month's figures, price pressures were higher for transportation and communication in February (+0.4% on a year-on-year basis vs +0.2% in January). In contrast, there were reduced price pressures for education, culture and entertainment (+1.3% vs +1.4% in January) and clothing and footwear (-7.8% vs -7.7% in January). Finally, the variation in food prices was the same as in the prior month (+2.2% in February and January). Meanwhile, core consumer prices were up 2.3% on a year-on-year basis in February, following a 2.0% increase in the previous month. Lastly, consumer prices rose 0.19% in February on a month-on-month basis, following a 0.29% decline in the previous month.

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