| 17.05.2009 |
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Expected Rate of Inflation Derived from the Capital Market,
Forecasters' Inflation Expectations, and the M1 Money Supply |
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| For an explanation of how the expectations are calculated - Click here |
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Expected inflation rate (percent) |
M1 money supply |
| Calculated from capital marketa |
Average of the inflation forecastsb 12 months forward |
Average monthly balance (NIS billion)
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Rate of change (percent) |
| For first year |
For second year |
For third year and after |
Monthly
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Previous 12 monthsc |
| December 2002 |
2.2 |
3.8 |
5.4 |
2.6 |
30.6 |
2.7 |
4.9 |
| December 2003 |
0.7 |
2.6 |
2.8 |
2.0 |
33.0 |
1.7 |
7.7 |
| December 2004 |
1.4 |
1.9 |
3.5 |
2.1 |
38.9 |
1.3 |
18.0 |
| December 2005 |
1.7 |
2.1 |
2.6 |
2.1 |
48.2 |
3.0 |
23.8 |
| December 2006 |
1.2 |
1.6 |
2.1 |
1.9 |
52.1 |
4.6 |
8.3 |
| December 2007 |
1.4 |
1.9 |
2.3 |
2.0 |
61.2 |
2.0 |
17.4 |
| December 2008 |
1.9 |
2.2 |
2.7 |
2.5 |
71.9 |
3.9 |
17.4 |
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| 2008 |
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| January |
2.6 |
2.2 |
2.5 |
2.6 |
60.4 |
-1.4 |
16.5 |
| February |
2.4 |
2.3 |
2.6 |
2.4 |
60.5 |
0.2 |
14.4 |
| March |
2.6 |
2.5 |
2.6 |
2.6 |
61.3 |
1.3 |
12.7 |
| April |
2.7 |
3.1 |
2.7 |
2.8 |
63.8 |
4.2 |
15.9 |
| May |
2.7 |
2.9 |
2.8 |
3.2 |
63.3 |
-0.8 |
14.8 |
| June |
3.0 |
3.0 |
2.9 |
3.1 |
64.1 |
1.3 |
11.7 |
| July |
3.2 |
3.0 |
2.8 |
3.2 |
66.6 |
3.8 |
12.2 |
| August |
2.7 |
2.6 |
2.7 |
3.0 |
67.2 |
0.9 |
9.4 |
| September |
2.1 |
2.3 |
2.6 |
2.8 |
68.3 |
1.7 |
11.8 |
| October |
0.3 |
1.2 |
2.6 |
2.0 |
70.4 |
3.1 |
17.5 |
| November |
-0.1 |
1.0 |
2.8 |
1.3 |
69.2 |
-1.8 |
15.3 |
| December |
-0.7 |
0.2 |
2.5 |
0.4 |
71.9 |
3.9 |
17.4 |
| 2009 |
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| January |
0.6 |
1.2 |
2.4 |
0.3 |
74.5 |
3.6 |
23.4 |
| February |
0.8 |
1.8 |
2.3 |
0.5 |
80.3 |
7.8 |
32.8 |
| Marchd |
0.7 |
1.7 |
2.4 |
0.6 |
86.7 |
7.9 |
41.4 |
| Aprild |
0.8 |
2.0 |
2.5 |
1.1 |
96.2 |
11.0 |
50.7 |
| 30 Last dayse |
0.9 |
2.4 |
2.6 |
1.3 |
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| a |
Inflation expectations are defined as break-even inflation and they include a risk-premium component. An explanation for how the expectations are calculated is available at the following address: http://bankisrael.gov.il/deptdata/monetar/m1_exp_e.pdf |
| b |
Simple arithmetic mean of the inflation forecasts of the commercial banks and economic consultancy companies that publish their forecasts on a regular basis. |
| c |
The percentage change in the level in the current month compared with the level in the equivalent month in the previous year. |
| d |
Money supply data are preliminary data. |
| e |
Average inflation expectations over previous thirty days |
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