Core inflation reaches 0.8% y/y in March

ISRAEL - Report 16 Apr 2018 by Jonathan Katz

Inflation in March surprises slightly on the upside, core inflation reaches 0.8% y/y. Inflation is likely to reach the lower end of target in 2018, but the BoI is expected to be patient and wait until the inflationary environment reaches 1.5%-2% (mid-2019). Fiscal numbers in Q118 suggest that the fiscal deficit this year is likely to reach target (2.9%) and possibly above, leaving little room for tax reduction.

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