Reported 24 days ago
Israel's inflation rate rose unexpectedly to 3.6% year-on-year in August, driven by the ongoing Gaza conflict and increasing government spending. This figure is significantly above the inflation target of 1-3% and marks a rise from 3.2% in July. The month-on-month inflation also increased to 0.9%, the highest in over two years, propelled by soaring prices for foreign travel and vegetables amid disrupted supply chains due to security concerns. The Israeli central bank has expressed worries about inflationary pressures linked to the war, leaving interest rate cuts unlikely in the near future.
Source: YAHOO