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Israel’s 2010 inflation rate – 2.7%

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Tuesday, January 25th, 2011

As reported in Port2port:

According to CBS the CPI rose 0.4% in December followong a 3.9% CPI increase in each of the previous two years

According to data released by Israel’s Central Bureau of Statistics, the consumer price index (CPI) rose 0.4% in December, bringing the 2010 inflation rate to 2.7% and following a 3.9% CPI increase in each of the previous two years.

The year 2010 was the first year since 2005 in which the Bank of Israel has managed to meet the annual inflation goal set by the government (1-3%).

Data released by Israel’s Central Bureau of Statistics show that last month saw price hikes in the following products: Footwear (11.5%), clothing (9.3%) and cucumbers (25.2%).

The rise in the December CPI was partially compensated by sharp drops in the prices of tomatoes (21.4%) and vacations (2.3%).

The entire year saw a rise in the prices of fresh vegetables (22.4%), fresh fruit (19.9%), cigarettes (11.8%) and footwear (11.7%). These price hikes were partially compensated by reductions in the prices of electricity (8.3%), chicken (4.6%) and overseas trips (3%).