Israel's Consumer Price Index dropped 0.3% in May, a sharper decline than analyst forecasts, according to economic correspondent Yuval Sadeh (N12). The data is expected to clear the path for another interest rate cut by the Bank of Israel.
Yuval Sadeh (N12) reported that Israel's Consumer Price Index fell 0.3% in May, a more significant decline than analysts had projected. The data, published Monday evening, is seen as a clear signal for the Bank of Israel to cut interest rates again after its previous reduction. Separately, the same report noted that housing prices fell 0.3% in March–April, led by sharp drops of roughly 2% in Jerusalem and Haifa, while Tel Aviv and central Israel saw modest price increases of 0.7% and 0.2%, respectively. The lower-than-expected CPI reading strengthens the case for a more accommodative monetary policy amid a mixed real-estate market.
3 developments
- DevelopingIsrael's annual inflation fell to 1.6%, lowest in over five years
- StrongBank of Israel Cuts Rate to 3.5%, Warns Recovery Depends on No Renewed Fighting
- DevelopingAnalysts assess Bank of Israel will cut interest rate by quarter point tomorrow
- StrongIsrael's state revenues reach 307 billion shekels in first half, deficit drops to 3.3%
Source and signal
A single-sourced dispatch is never rated Confirmed or Strong. Its Signal strengthens only when a second, independent source corroborates it.
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