Inflation & Prices
Israel’s Inflation Rate Climbs to the Highest Level Since 2008
Shoppers inside a Shufersal Ltd. supermarket in Herzlia, Israel.
Photographer: Kobi Wolf/BloombergThis article is for subscribers only.
Israel’s annual inflation rate rose for a second consecutive month to the highest level since 2008, keeping up pressure on the Bank of Israel as it begins slowing the pace of interest rate hikes.
Consumer prices rose an annual 5.3% in November, up from 5.1% in October, according to the Central Bureau of Statistics. The biggest price increases were in housing, apartment maintenance and food. The overall annual inflation rate was in line with the median expectations among economists surveyed by Bloomberg ahead of the announcement, and so was the monthly rise in prices.