August Inflation Hits 0.7%, Annual Rate Holds Steady at 1.5%
Consumer prices in Israel rose by 0.7% in August, a figure considered high but slightly below initial forecasts. The annual inflation rate remained unchanged at 1.5%, mirroring the rate recorded in August of the previous year.
Significant price increases were observed in several categories, including fresh produce, transportation, housing, and culture and entertainment. In the real estate sector, the index for new apartment prices saw a modest increase of 0.2%. However, prices for secondhand apartments experienced a decline of 1.2% during the same period.
Following these inflation figures, economists at banks and investment firms anticipate that the Bank of Israel will not lower its benchmark interest rate at its upcoming meeting on October 21st. This would mark the fourth consecutive meeting without an interest rate reduction.
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