Inflation Israel 2024
Average inflation: 3.1%
Current Inflation
Inflation is high at 3.1%, well above the ECB target.
Peak and Trough
The highest inflation was in August at 3.6%. The lowest inflation was in February at 2.5%.
- Highest month
- August: 3.6%
- Lowest month
- February: 2.5%
- Difference
- 1.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 8.0%. The lowest price increase was in Clothing and footwear with an average of -3.3%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 8.0%
- Lowest increase
- Clothing and footwear: -3.3%
Historical Context
Current inflation is 0.6% higher than the 5-year average of 2.5%.
- 5-year average
- 2.5%
- 10-year average
- 1.3%
- All-time high (2008)
- 4.5%
- All-time low (2020)
- -0.6%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +1.1 percentage point.
- Change vs. previous year
- -1.1 percentage points
- Largest monthly swing
- February: -2.7 percentage points
ECB Target
Inflation is 1.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 2.7% | -2.6 |
| February | 2.5% | -2.7 |
| March | 2.7% | -2.3 |
| April | 2.8% | -2.2 |
| May | 2.8% | -1.8 |
| June | 2.9% | -1.3 |
| July | 3.2% | -0.2 |
| August | 3.6% | -0.7 |
| September | 3.5% | -0.4 |
| October | 3.6% | -0.1 |
| November | 3.5% | +0.2 |
| December | 3.2% | +0.3 |
| Average | 3.1% |
Data source
Data from OECD. Last updated: 11/01/2026.