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Israel: Inflation recedes in July
Latest reading: Inflation came in at 3.1% in July, down from June’s 3.3% and matching market forecasts, but still above the Bank of Israel’s 1.0–3.0% target range. The downtick in inflation was driven by lower price pressures for food and clothing.
The trend was unchanged, with annual average inflation coming in at June’s 3.4% in July. Meanwhile, core inflation edged down to 3.4% in July from June’s 3.5%.
Lastly, consumer prices rose 0.39% from the previous month in July, accelerating from the 0.29% rise logged in June.
