Economy Israel inflation dips to 4.6% in August 2022 By Reuters September 16, 2022 Reuters/Raneen Sawafta Policymakers are expected to raise the key rate again by at least another 50 basis points at its next decision on October 3. Israel’s annual consumer price index (CPI) of inflation dipped to a 4.6 percent rate in August, the Central Bureau of Statistics said on Thursday, easing from a 14-year high of 5.2 percent in July and after aggressive Bank of Israel rate hikes in recent months. A Reuters poll of analysts had projected an inflation rate of 4.8 percent last month. CPI fell 0.3 percent in August from July, led by declines in transport, telecommunications, clothing and footwear, the bureau said. In a bid to cool inflation, Israel’s central bank has raised its benchmark rate to two percent from 0.1 percent in April, the last move a strong 75 basis-point hike on August 22. Policymakers are expected to raise the key rate again by at least another 50 basis points at its next decision on October 3.