News Brief15:05 PM

(IsraelNN.com) The consumer price index in August rose 0.7 percent, in line with economists' expectations. A hike in the cost of electricity, a weaker shekel and price increases for milk, bread and fruits and vegetates contributed to the higher than usual August figure.

Inflation has sharply increased from near zero to an annual rate of six percent during the past half a year, but further inflation is expected to be more moderate unless gasoline prices begin climbing to new record highs.