Inflation surprises sharply on the upside

ISRAEL - Report 16 Sep 2024 by Jonathan Katz

1. Inflation in August (0.9% m/m) surprised sharply on the upside due to a spike in fresh produce and airfares.

2. Our base call remains for rate stability on October 9th, but shekel weakness could pose a dilemma for the MPC.

3. Data for Q3 has been encouraging, especially exports, private consumption and tax revenues.

Now read on...

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