“A combination of a global slowdown, the easing of disruptions in the supply chain and the resumption of wheat exports from Ukraine are expected to reduce the inflationary pressures in the world in the coming months. At the same time, we will not return so quickly to the period before the corona virus. Even if you look at the price of wheat, which has dropped sharply in recent months, it about 40% higher than the pre-coronavirus In Israel, the peak of annual inflation is still ahead of us – the prices of food, housing, and apartment maintenance (electricity and water) are still expected to rise.
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“The price indices of the coming months will be affected by the measures of the Treasury, such as a further reduction of the excise tax on fuel by half a shekel at the beginning of August, or attempts to moderate the increase in the prices of electricity and bread. Fuel prices are expected to drop at a sharp rate in any case even without the tax reduction, so it is not clear whether it will actually be reduced The tax. The prices of dairy products are expected to become more expensive in August and join pastries and eggs that have become more expensive in the last month. We expect inflation at a rate of 3.1% in the next 12 months.