CBS: Israel's annual inflation climbs for first time in 4 months

Bank of Israel Governor Stanley Fischer has been focusing on bolstering economic growth
 
Central Bureau of Statistics (CBS) announced on 15 March that Israeli inflation rate accelerated on an annual basis in February for the first time in four months as the shekel depreciated and fuel prices rose.
 
The inflation rate climbed to an annual 3.4%, compared with 3.3% in January.
 
Inflation has eased from a peak of 5.5% in September and October, enabling the Bank of Israel to lower its benchmark lendingrate by 3.5% over the past four months to a record low 0.75%.
 
As inflation falls, Bank of Israel Governor Stanley Fischer has been focusing on bolstering economic growth. The bank last week said gross domestic product may contract 1.5% this year, its steepest drop in the country’s 61-year history.