The December index is higher than forecast.
Is inflation returning?
Clothing and footwear prices, which rose 1.1% in December, swept the consumer price index up 0.3%, three times the forecast.
Inflation in 2021, 2.8%, the highest index since 2010. However, the high index is still within the Bank of Israel's inflation target
Friday, 14 January 2022, 14:27 Updated: 14:49
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Not quite inflationary yet, but perhaps cause for concern: The December consumer price index, released today, stands at 0.3%.
Three times higher than the early estimates that predicted an increase of only 0.1%.
The main item that affected the relatively sharp increase is the clothing and footwear item, which jumped by 1.1%.
Also in items such as housing, food, furniture and more, there were relatively high increases of between half a percent and one percent.
In contrast, the fresh fruits and vegetables section decreased by 2.7%.
This is the largest increase in the annual inflation rate, which stood at 2.8% in 2021, the sharpest increase since 2010. However, it should be noted that inflation is still within the Bank of Israel's target.
Is this a trend that could lead to inflationary dizziness?
Judging by various estimates, the answer is no, but we have already seen how inflation has soared elsewhere, especially in the US, far beyond forecasts.
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Consumer price index
Cost of living