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Prices Still Soaring; Builders Asked to Maintain Pre-devaluation Prices

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Prices are still soaring in Israel as people continue to attempt purchasing Items which retain pre-devaluation prices. Nevertheless, Finance Minister Pinhas Sapir, speaking at the Labor Alignment Economic Committee, noted that the devaluation has created less turmoil than anticipated. Meanwhile, government price controllers continued to inspect shops and services, finding in several cases that prices were above the prescribed level. There still remains some confusion concerning several commodities which have not yet been revalued. Constructors and contractors were asked to maintain the pre-devaluation prices on homes, however, the Contractors Association claimed that new prices of imported basic materials compels them to demand higher prices accordingly.

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