July increase in consumer price index brings Israel’s yearly inflation rate to 5.2%; housing prices jump by 17.8%, the highest in over a decade.
A construction site for new housing in the southern Israeli city of Beersheba on July 28, 2022. (Nati Shohat/Flash90)
Inflation and housing prices in Israel are rising faster than seen for many years, according to new official figures released Monday, continuing a worrying trend for the economy.
Israel’s Consumer Price Index (CPI) rose an unexpected 1.1% in July and an annual 5.2% compared to July 2021, the fastest yearly rate in 14 years, according to the latest report published by the Central Bureau of Statistics. The inflation rate is well beyond the upper range of 3% forecasted by the Bank of Israel.








