A compression knit fabric consisting of a base knit and an elastic weft yarn inserted therein. The base knit is formed from at least one knitting yarn, and the weft yarn is inserted in weft yarn courses between two consecutive stitch courses of the base knit. The knitting yarn in each stitch course of the base knit is knit in alternation as loop stitch and tuck, so that the knitting yarn forms a tuck stitch between two loops of a stitch course of the base knit. The weft yarn is inserted between adjacent stitch courses of the base knit in alternation as tuck and float so that the weft yarn floats between two tuck stitches of a weft yarn course. The alternating sequence of loop stitch and tuck in consecutive stitch courses of the base knit is offset by a stitch relative to the alternating sequence of tuck and float in consecutive weft yarn courses.
