Israel's inflation hits 14-year high of 5.3 pct

Israel's year-on-year inflation rose to 5.3 percent in November, the highest since October 2008, according to figures issued by the Israeli Central Bureau of Statistics on Thursday.

The 12-month inflation figure continued to go over the upper limit of the government range of 1 to 3 percent. The last time the figure was within the range was in December last year.

Israel's inflation increase has not been curbed despite that the central bank raised the base interest rate from 0.1 percent in April to the current 3.25 percent. Analysts estimated that the bank will raise the interest rate again in early January.

Israel's home prices in the September-October period registered a year-on-year increase of 20.3 percent, the highest in over 12 years, according to the bureau.