Bank of Israel inflation report finds rate moving higher

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The Bank of Israel's fourth quarter Inflation Report published on Wednesday showed inflation increased slightly in the three months to December to an annual rate of 2.7%.

Stanley Fischer, the governor of the Bank of Israel, said the economic recovery that had started in mid-2009 continued, with indications of increased inflationary pressures becoming evident. According to the report, CPI inflation, led by an increase in the energy and food components, had increased by 0.8% in the fourth quarter

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