JERUSALEM, Aug. 15 (Xinhua) -- Israel's 12-month inflation rate rose to 3.2 percent at the end of July, up from 2.9 percent in June, according to data released by the country's Central Bureau of Statistics on Thursday.
The new figure exceeded the upper boundary of the 1-to-3 percent government annual target range for the first time since November of last year, after dropping to 2.5 percent in February 2024.
Israel's consumer price index (CPI), a major indicator of inflation, rose by 0.6 percent in July, mainly due to price increases of vegetables and fruits, culture and entertainment, and apartment rents.
Analysts attributed the rising prices of fruits and vegetables to severe damage to agricultural lands and the departure of foreign workers amid the ongoing conflict.
They added that rental prices have soared as many contracts end during the summer months, with landlords taking advantage of the situation to raise prices.
Housing prices in Israel, which are not included in the CPI, increased by 4.7 percent year-on-year in May-June, marking the highest increase in a year. ■
