Israel: Inflation comes in at highest level since September 2011 in December
January 14, 2022
Consumer prices increased 0.29% over the previous month in December, contrasting the 0.10% fall recorded in November. December's result marked the highest reading since August. The reading was primarily due to rising prices for food. In addition, price pressures for education, culture and entertainment dropped at a slower rate.
Inflation increased to 2.8% in December, following November’s 2.4%. December's figure represented the highest inflation rate since September 2011, but was still within the Central Bank’s 1.0%–3.0% target range. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.5% in December (November: 1.2%). Lastly, core inflation rose to 2.6% in December, from the previous month's 2.0%.
Author: Oliver Reynolds, Economist