Israel annual inflation dips to 4.6% in August after topping 5% in July

CPI SA

15/09/2022 16:30

JERUSALEM, Sept 15 (Reuters) - Israel's annual consumer
price index (CPI) of inflation dipped to a 4.6% rate in August,
the Central Bureau of Statistics said on Thursday, easing from a
14-year high of 5.2% in July and after aggressive Bank of Israel
rate hikes in recent months.
    A Reuters poll of analysts had projected an inflation rate
of 4.8% last month. CPI fell 0.3% in August from July, led by
declines in transport, telecommunications, clothing and
footwear, the bureau said.
    In a bid to cool inflation, Israel's central bank has raised
its benchmark rate  ILINR=ECI  to 2% from 0.1% in April, the
last move a strong 75 basis-point hike on Aug. 22. Policymakers
are expected to raise the key rate again by at least another 50
basis points at its next decision on Oct. 3.

 (Reporting by Steven Scheer; Editing by Hugh Lawson)
 ((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters
Messaging: steven.scheer.thomsonreuters.com@reuters.net;
Twitter: @StevenMScheer))