(MENAFN- Trend News Agency)
Israel's year-on-year inflation reached 5.2 percent in July, the
highest since October 2008, according to figures released by the
country's Central Bureau of Statistics, Trend reports citing
This is the sixth month in a row for the 12-month consumer price
index to rise above the government target range of 1-3 percent.
Israel's monthly inflation rate in July was 1.1 percent,
following a 0.4 percent in June, mainly due to an increase of 8.5
percent in fresh fruit prices and 3.3 percent in transport
Israeli analysts estimated that the continued rise in inflation
will lead to a fourth consecutive rise in Israel's base interest
rate by the Bank of Israel on Aug. 22.
During the last three increases, the base interest rate has been
raised from 0.1 percent to the current rate of 1.25 percent.
Israel's home prices in the May-June period registered a
year-on-year increase of 17.8 percent, the highest in over 12
years, according to the Bureau.
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