JERUSALEM (Jun. 17)
The cost of living spurted again in May, jumping the price index by five points and insuring an automatic salary increase for Israeli factory, white collar and government employee as of July.
Figures released today revealed that the cost of living index on May 31 stood at 270, a full 20 points higher than it was on January 1. The index is based on September 1950 prices as 100.
The Treasury hopes to halt the inflationary spiral with the reintroduction of subsidies for food items. If the upward climb is not halted or at least slowed, the government payroll alone stands increase by 20,000,000 pounds.