JERUSALEM, Aug. 15, 2022 (Xinhua) Israel’s year-on-year inflation reached 5.2 percent in July, the highest level since October 2008, according to figures released by the country’s Central Bureau of Statistics today (Monday).
This is the sixth consecutive month that the 12-month CPI has risen above the government’s target range of 1 to 3 percent.
The monthly inflation rate in Israel in July was 1.1 percent, down from 0.4 percent in June, mainly due to an 8.5 percent increase in fresh fruit prices and 3.3 percent in transportation prices.
Israeli analysts estimated that persistently high inflation would cause the Bank of Israel to raise the country’s key interest rate for the fourth time in a row on August 22. /ts/
