JERUSALEM, June 15 (Xinhua) -- Israel's 12-month inflation rate decreased to 3.1 percent in May, down from 3.6 percent in April, according to data issued Sunday by the Central Bureau of Statistics.
This marks the lowest 12-month inflation figure since June 2024, when it stood at 2.9 percent.
The decline brings inflation closer to the government's target range of 1 to 3 percent. Analysts said the decline may lead the central bank to reduce its base interest rate, which has remained unchanged at 4.5 percent since January 2024.
The monthly consumer price index (CPI), a key measure of inflation, decreased by 0.3 percent in May. This followed a 1.1 percent rise in April, which was the highest monthly increase since July 2022.
May's drop was driven mainly by a 7.9 percent decline in airfare prices, part of a 2.4 percent fall in the broader transport and communication category.
