Israeli Inflation Slower Than Forecast, Stays Above Target Range
- Annual inflation remained at 3.5%, below economists’ forecasts
- Central bank raised rates this week to counter surge in prices
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Israel’s inflation stayed above the government’s target range for the third consecutive month in March but didn’t accelerate, easing some of the pressure on the central bank as it looks to bring the recent surge under control.
Price growth remained at an annual 3.5% in March, according to the Central Bureau of Statistics, unchanged from February. The median forecast in a Bloomberg survey of 12 economists was for 3.7%.