Inflation in Israel Historically Had Been Much Worse

Published by
San Diego Jewish World

By Ira Sharkansky Ira Sharansky JERUSALEM — The current news is about inflation and the Israeli government. Let’s deal with inflation.The current rate here is a bit over 4 percent a year. In the United States, it’s a bit over 8 percent a year.Both are considered high and have brought forth lots of commentary and considerable effort by Central Banks to increase interest rates.But let’s think back to something much higher. The economy had gone from a 13% inflation rate in 1971 to 111% inflation in 1979. During the early 80’s inflation was hovering at the 400% mark. By 1984 inflation was reaching…

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