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C.o.l. Index Rose by 6.3% in July, Second Highest July Hike Since 1948

The cost of living index rose by 6.3 percent during July, the Central Bureau of Statistics announced today. It was the second highest July increase since 1948, exceeded only by the July 1982 rise of 9.2 percent.

The Bureau said the increase was held down by a seasonable drop in the prices of fruit and vegetables, in abundant supply this year. Without that drop the July index would have risen by 7.1 percent. The inflation rate is at present running at the pace of 125 percent this year. Since January, the C.O.L. index has risen by 60 percent.

The July increase announced today does not include the effects of this month’s 7.5 percent devaluation of the Shekel, which will only be felt for part of this month, when the August index figure is published in mid-September.