JERUSALEM, Sept. 16 (Xinhua) — Israel’s 12-month inflation rate rose to 3.6 percent in August, up from 3.2 percent in July, according to data released by the country’s Central Bureau of Statistics on Sunday.
The new figure, the highest in 10 months, further surpassed the government’s annual target range of 1 to 3 percent, following the previous month’s breach of the upper boundary for the first time since November last year.
Israel’s consumer price index, a major indicator of inflation, rose by 0.9 percent in August, mainly due to price increases in fresh vegetables and transport.
In particular, prices of flights abroad increased by 22.5 percent, as many foreign airlines suspended operations in Israel over security concerns.
The price increases diminished the likelihood of a reduction in the central bank’s base interest rate, currently at 4.5 percent, in the coming months, according to analysts.
