Israel reports highest inflation in 14 years in July

According to Israel’s Central Bureau of Statistics, the consumer price index (CPI) rose 5.2% year-on-year in July. This was above analysts’ estimates of 4.6% and was the sharpest increase since October 2008.

Compared with the previous month, the CPI rose again by 1.1% in July.

The CPI was driven by rising food prices, housing rents and transportation costs.

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