Israel’s annual inflation up 0.3 pct

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JERUSALEM, Dec. 15 (Xinhua) — Israel’s annual inflation over the past 12 months has risen by 0.3 percent, the state’s Central Bureau of Statistics said in a statement on Sunday.

The rate is significantly lower than the annual government inflation target, ranging from 1 to 3 percent.

Statistics shows Israel’s consumer price index (CPI), a key gauge of inflation, decreased by 0.4 percent in November month on month, after registering a 0.4 percent increase in October.

The Israeli media estimates that these low inflation figures increase the chances of reducing Israel’s basic interest rate in the upcoming central bank decision on January 9.

Israel’s base interest, which stands at 0.25 percent, has not changed since November 2018.

Home prices were on the increase recently, despite government plans to halt the continuous price rise.

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