Israel's inflation slips to 4-month low of 3.4% in November

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Israel's inflation slips to 4-month low of 3.4% in November

^{Published on 2024-12-15 13:04:14 - Reuters}

Israel's inflation dipped in November, data from the Central Bureau of Statistics showed on Sunday, but staying above target and likely not enough to push policymakers to reduce interest rates anytime soon.

Israel's inflation rate dropped to a four-month low of 3.4% in November 2024, down from 3.7% in October, according to data released by the Central Bureau of Statistics. This decline was influenced by a decrease in the prices of fresh produce, clothing, and footwear, although costs for housing, healthcare, and transportation continued to rise. The annual inflation rate, however, remained above the government's target range of 1% to 3%. Despite the slight relief in inflation, the ongoing conflict with Hamas has introduced economic uncertainties, with potential impacts on consumer spending and business investment. The Bank of Israel has maintained its interest rate at 4.75% to manage inflation while supporting economic stability amidst these challenges.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/middle-east/israels-inflation-slips-4-month-low-34-november-2024-12-15/ ]

Contributing Sources

Reuters

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Israel's inflation slips to 4-month low of 3.4% in November