Calcalist: Annual Inflation is down to 2.6, CPI unchanged

Calcalist reports that the Israel Central Bureau of Statistics (ICBS) published the Consumer Price Index for January, which remained stable. This brings annual inflation down to 2.6% annually.

While this number is within the 1-3% target range for inflation, Calcalist says the Bank of Israel is expected to hold off on interest rate cuts until they can get a better handle on the effects of Moody's downgrading of Israel's credit rating and of the state budget on the Israeli economy.

According to the ICBS, health prices increased 0.6%, as well as food and housing which each increased 0.2%. Meanwhile, clothing, shoes, culture, and leisure all declined by 1.0%, fruits and vegetables declined by 0.5%, and transportation went down 0.4%.