Bank of Israel grapples with low inflation

The central bank does not expect prices to be back on target until 2018

David Vaaknin

Like many of its peers overseas, the Bank of Israel has been struggling to push up inflation, although the latest figure narrowly ticked above the zero mark.

“Israel’s economy has been, for some time, in a relatively unique environment of very low inflation with growth at near its potential rate, and a labour market at full employment,” said governor Karnit Flug at a press conference on October 19.

Inflation was 0.1% in September, having been –0.1% a month earlier. Despite a spell in positive

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