The Consumer Price Index (CPI) in Israel rose 0.4% in December, reported the Central Bureau of Statistics today.
The rise in the index brings inflation, as measured by the CPI, to 2.7% for the full year of 2010. The figure is near the top of the government's 1-3% target for annual inflation. 2010 marks the first year since Stanley Fischer became Governor of the Bank of Israel in 2005 that the full year figure has been within the target range.
The rise was in line with economists' forecasts.
Clothing and footwear prices rose 9.8% in December.
After two months of falls, the housing component of the index rose, with a rise of 0.5%.
Full year inflation in 2010 was only 1.3% without the housing or fruit and vegetables components, so those items, along with telecommunications costs, can be seen as primarily responsible for the 2010 figure.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2011
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