Israel’s Consumer Price Index jumped in April
Despite the sharp rise, inflation remains within the Bank of Israel’s annual target range as home prices have resumed their rise.
Assessment
April's CPI jump signals renewed price pressure in the Israeli economy, even as the central bank's target range still contains the annual rate. The concurrent uptick in home prices adds a layer of concern for housing affordability. The next monthly data will show whether this is a one-month spike or the start of a sustained upward trend.