Israel’s inflation slightly falls to 3.5% in Sept

Israel’s annual inflation rate dipped to 3.5 per cent in September, compared to a 10-month high of 3.6 per cent in August.

According to data from the Central Bureau of Statistics showed on Tuesday, the consumer price index fell 0.2 per cent in September from August buoyed by lower costs for transport – airfares and fuel – entertainment, clothing and footwear, and fresh fruit. These were only partly offset by price hikes of fresh vegetables, education and furniture.

“Today’s (inflation) figure is far from one that would justify an interest rate hike in November,” Mizrahi Tefahot chief strategist Yonie Fanning, told Reuters.

Attribution: Reuters