Israel's inflation rate reached 3.6% in August, exceeding the government's target due to Gaza conflict-related supply issues.

Israel's inflation rate surged to 3.6% in August, the highest in ten months and above the government's target of 1-3%. The increase, driven by supply issues linked to the ongoing conflict in Gaza, includes significant price hikes in fresh vegetables and transportation. As a result, expectations for interest rate cuts by the Bank of Israel have diminished, with rates likely remaining unchanged until 2025.

September 15, 2024
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