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Calcalist reports that the Israel Central Bureau of Statistics (ICBS) published the Consumer Price Index for January, which remained stable. This brings annual inflation down to 2.6% annually.
While this number is within the 1-3% target range for inflation, Calcalist says the Bank of Israel is expected to hold off on interest rate cuts until they can get a better handle on the effects of Moody's downgrading of Israel's credit rating and of the state budget on the Israeli economy.
According to the ICBS, health prices increased 0.6%, as well as food and housing which each increased 0.2%. Meanwhile, clothing, shoes, culture, and leisure all declined by 1.0%, fruits and vegetables declined by 0.5%, and transportation went down 0.4%.
