Israeli Inflation Meets Target for First Time Since June 2024

Israel’s annual inflation inched back into its target range for the first time in over a year, although it’s unclear whether policymakers will consider it enough to cut interest rates later this month.

Consumer prices rose 2.9% in annual terms and returned to the government’s target of between 1% and 3%, which hadn’t been met since June 2024. The data released Monday by the country’s statistics bureau was above the median estimate of 10 economists surveyed by Bloomberg - they projected inflation at 2.8% annually.