Development of inflation rates in Palestine
The inflation rate for consumer prices in Palestine moved over the past 22 years between -0.2% and 9.9%. For 2019, an inflation rate of 1.6% was calculated.
During the observation period from 1997 to 2019, the average inflation rate was 3.3%
per year. Overall, the price increase was 104.89 %. An item that cost 100 Shekel in 1997 was so charged 204.89 Shekel in the beginning of 2020.
In only a few countries negative inflation rates are achieved. This means that the general price level is declining and consumer prices get cheaper. This case is called deflation.In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.Back to overview: West Bank