Israel's Consumer Price Index Rises 0.3% in July; Annual Inflation at 1.5%
In July 2026, Israel's Consumer Price Index rose 0.3%, with annual inflation at 1.5%, near the lower end of the Bank of Israel's target. Key price drops occurred in clothing and fresh produce, while housing and transportation costs increased. Housing prices showed minor monthly growth but declined annually, varying by region.
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- Israel's CPI rose 0.3% in July 2026, matching expectations.
- Annual inflation rate is 1.5%, near the Bank of Israel's lower target limit.
- Clothing and footwear prices fell 4.6%, fresh produce dropped 3.5%.
- Transportation and housing prices increased by 1.4% and 0.7%, respectively.
- Rent rose 2.6% for renewing tenants and 4.7% for new tenants.
- Housing prices rose 0.1% monthly but declined 1.5% annually, with regional variations.
Israel's Consumer Price Index (CPI) increased by 0.3% in July 2026 compared to June, aligning with prior expectations. The annual inflation rate, measuring the change over the last 12 months, stands at 1.5%, which is within the Bank of Israel's target range of 1% to 3%, but near the lower boundary. This low inflation rate is intensifying calls for an interest rate cut.
Significant price decreases were recorded in clothing and footwear, which fell by 4.6%, and fresh fruits and vegetables, which dropped by 3.5%. Other categories with price declines include furniture and home equipment (-0.7%) and miscellaneous items (-0.4%). Conversely, prices rose notably in transportation (up 1.4%), culture and entertainment (up 1.1%), and housing (up 0.7%). Rent increases were also observed: renewing tenants faced a 2.6% rise, while new tenants saw a 4.7% increase.
Regarding housing prices, comparing transactions from May-June 2026 to April-May 2026 shows a slight overall increase of 0.1%, with new home prices rising by 0.5%. Regional price changes for this period include Jerusalem (+1.8%), Haifa (+1.5%), and the North (+0.9%), while the Central and Tel Aviv districts saw declines of 1.0% and 0.7%, respectively. On an annual basis, housing prices fell by 1.5%, and new home prices decreased by 2.0%. Yearly regional declines were most pronounced in the Central district (-4.1%), followed by Haifa (-1.8%) and Tel Aviv (-1.7%).
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