The Central Statistical Office in Israel said on Sunday that Israel’s inflation rate has reached 5.3 percent in 2022, attributing it to rising prices for housing, food, transportation and communication services.
The annual rate of inflation in December was unchanged from November at the highest level since October 2008, but was just below the 5.4% expected in a Reuters poll of analysts, and well below the levels in West.
The consumer price index rose 0.3% in December compared to November.
In an effort to bring inflation down to its 1-3% target, the Central Bank of Israel has raised interest rates
The benchmark fell sharply to 3.75% from 0.1% in April.
Bank officials said they expect the rate to hit at least 4% in the coming months.
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