Inflation rates in Israel stand to stand at 2.2% in 2021 and 1.5% in 2022, the Finance Ministry Chief Economist's Office said Sunday.
Follow Israel Hayom on Facebook and Twitter
This figure represents a higher forecast than the one issued by the Bank of Israel, which predicted inflation rates of 1.3% in 2021 and 1.2% in 2022.
According to the Finance Ministry, "it is difficult at this stage to tell whether we are looking at a temporary rise in inflation expectations or a rise in the probability of higher inflation in the medium and long terms.
"In the coming year, we will see a rise in inflation because of the recovery of the economy, a rise in private consumption largely arising from growth in savings, and a rise in the price of energy," the review said.
