Israel’s inflation rate hits 4 pct, highest in nearly 11 years

Israel’s inflation reached 4 percent in April from a year earlier, with a monthly increase of 0.8 percent, the Israeli Bureau of Statistics said Sunday.

April’s rise also beat the 3.5-percent in March to hit a new record high since June 2011, mainly due to a 5.5-percent price increase in fresh vegetables, and a 2.8-percent increase in clothing, said the statistics bureau.

It is also the third consecutive month for the year-on-year consumer price index (CPI) floating above the government target range of 1-3 percent.

Israel’s home prices in the February-March period registered a year-on-year increase of 16.3 percent, the highest in Israel’s real estate transaction prices in nearly 12 years, according to the bureau’s data. ■