Israel's inflation eased more than expected in December to end 2024 at 3.2% versus 3.0% in 2023, according to data from the Central Bureau of Statistics. The annual inflation rate in December eased to its lowest level since July, slowing from 3.4% in November. The December rate was below expectations but still exceeds the government's target range. The consumer price index slowed by a bigger than expected 0.3% in December from November on lower costs of fresh produce, transportation, shoes, and entertainment. The Bank of Israel has left the interest rate unchanged since January 2024 but may consider rate reductions if price pressures start to ease.