JERUSALEM (Jun. 17)
The cost of living in Israel rose four points in May, to a new high of 276, the government announced today. The rise of nine points since January will necessitate a nationwide pay increase amounting to 50, 000, 000 pounds.
The government’s own payroll will be affected by individual raises of seven to 18 pounds per month per civil servant. In addition, the government must increase interest payments on certain types of its own loans which are governed by a cost of living escalator clause.