Israel annual inflation rate holds at 4.6% in September.

Israel annual inflation rate holds at 4.6% in September.

Israel annual inflation rate holds at 4.6% in September

Summary : Israel annual inflation rate holds at 4.6% in September.

JERUSALEM, Oct 14 (Reuters) – Israel’s annual consumer price index (CPI) of inflation remained at a 4.6% rate in September, the Central Bureau of Statistics said on Friday, amid steep Bank of Israel rate hikes in recent months.

A Reuters poll of analysts had projected an inflation rate of 4.5% last month.

Although inflation in Israel is far below much of the West, policymakers are expected to raise the key rate again by at least another 50 basis points at its next decision on Nov. 21 but Bank of Israel Governor Amir Yaron told Reuters this month the tightening cycle should end with rates at “three-plus” percent, indicating rate increases were close to over.

JERUSALEM, Oct 14 (Reuters) – Israel ‘s annual consumer price index (CPI) of inflation remained at a 4.6% rate in September , the Central Bureau of Statistics said on Friday, amid steep Bank of Israel rate hikes in recent months .A Reuters poll of analysts had projected an inflation rate of 4.5% last month . CPI rose 0.2% in September from August, led by gains in fresh produce , healthcare, education and furniture, the bureau said.In a bid to cool inflation, Israel ‘s central bank has raised its benchmark rate (ILINR=ECI) to 2.75% from 0.1% in April, the last two moves strong 75 basis-point hikes in August and on Oct. 3.Although inflation in Israel is far below much of the West, policymakers are expected to raise the key rate again by at least another 50 basis points at its next decision on Nov. 21 but Bank of Israel Governor Amir Yaron told Reuters this month the tightening cycle should end with rates at “three-plus” percent, indicating rate increases were close to over. read more