Israel’s annual inflation highest in nearly a decade

Israel’s annual inflation increased by 2.5 per cent over the past 12 months, the highest in almost 10 years, the Israeli Bureau of Statistics said.

This is the highest annual inflation recorded in the state since an annual figure of 2.6 per cent recorded in November 2011, reports Xinhua news agency.

It is also the fifth month in a row that the Israeli annual figure hits the annual government inflation target, ranging from 1 per cent to 3 per cent.

The bureau added that since the beginning of 2021, Israel’s inflation has risen by 2.5 per cent as well.

Israel’s consumer price index (CPI), a major indicator of inflation, rose by 0.2 per cent in September, after registering a 0.3-per cent increase in August.

September’s rise was mainly due to a 9.5 per cent increase in fresh vegetable prices, while accommodation, vacation and travel prices decreased by 15.4 per cent.