Jerusalem 16 August : Israel’s annual inflation was 5.2 percent in July the highest level since October 2008 according to figures published by the Central Bureau of Statistics.Central Bureau of Statistics. It’s the sixth month in a row for the consumer price index to climb over the government’s goal range of 3 to 3, Xinhua news agency reported.
The rate of inflation in Israel’s monthly calendar in July was 1.1 percent, following an increase of 0.4 percent increase in June, mostly due to an increase of 8.5 percent in the cost of fresh fruits as well as 3.3 percent in transportation costs.
Israeli analysts have predicted that the ongoing increase in inflation could lead to the fourth consecutive increase in Israel’s interest base rate set by the Bank of Israel on August 22.
In the three previous increases the interest rate base has been increased from 0.1 percent to the present rate of 1.25 per cent.
Israeli home prices in the period of May-June recorded an increase of 17.8 percent which was the most in more than 12 years according to the Bureau.
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