1989 Inflation Reached 21.7 Percent
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1989 Inflation Reached 21.7 Percent

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Inflation bedeviled Israel last year and is expected to persist at double-digit rates.

The cost-of-living index registered a 1.1 percent rise in December, bringing the annual inflation rate for 1989 to 21.7 percent.

That is about 25 percent higher than that of the previous year and more than twice the single-digit rate forecast by Finance Minister Shimon Peres at the beginning of 1989.

Dov Lautman, chairman of the Manufacturers Association, said present trends indicate there is little hope the inflation rate can be brought under 10 percent in 1990.

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