Israel has an official annual inflation target of 1 to 3%. A strong shekel has helped to keep inflation pressures from rising further
Bank of Israel (BoI) Governor Stanley Fischer said last Wednesday that Israeli inflation rate will likely stay above a 3% annual rate for up to another year.
In a letter accompanying the central bank's quarterly inflation report to government officials, Fischer noted it was unclear as to the pace of an expected inflation trend since most of the factors were external.
Israel has an official annual inflation target of 1 to 3%. In June, the rate reached 4.8% over the prior 12 months, below a 5.4 percent rate in May. A strong shekel has helped to keep inflation pressures from rising further.
Fisher reiterated that the Bank of Israel would "continue to monitor developments expected around the world and in Israel and will act to maintain price stability while supporting economic and financial stability."
Fischer: Israel inflation to stay above target in 2009
Israel has an official annual inflation target of 1 to 3%. A strong shekel has helped to keep inflation pressures from rising further
11.08.08 / 00:00
•
More articles that may interest you
American Airlines & El Al To begin Code-Share
Knesset Economic Committee discussed port issues
EU will finance innovation projects in MEDA countries
Israel Shipyard delivered first cargo ship to European buyer
New aviation agreement signed with Ukraine
Port of Haifa: 20% increase in container movement during 1H
More news from Industry & Trade Section
>Israeli customs officers given tips how to identify faked products/04.08.08
>Joint Jordanian-Israeli delegation to discuss trade relations in the USA/28.07.08
>BOL: state of the economy index down - second month in a row/28.07.08
>Unemployment rates down to its lowest level in 21 years/28.07.08
>Israeli customs successfully applied new export control system/21.07.08
>Chambers of Commerce: Exports of services up 16% in first quarter/14.07.08
>Israel Water Authority: Israel facing worst water crisis in 80 years/14.07.08
>Israeli customs to apply new strengthened export control system/07.07.08
>Bar-On: domestic economy set to slow due to global downturn/07.07.08
>Head of Israel's customs directorate participated in WCO’s annual Council Session/07.07.08