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C.o.l. Index Rose by 11.6% in December, Bringing Annual Inflation Rate for 1983 to 190.7%

The cost of living index rose by 11.6 percent during December, bringing the annual inflation rate for 1983 to 190.7 percent, the Central Bureau of Statistics announced today. The December figure was the highest ever for that month, even though it was lower than the 15.2 percent in November.

The 1982 inflation rate was 131.5 percent, and at this time last year the Finance Ministry was promising that last year would be a “two-figure inflation — less than 100 percent.”

Histadrut Secretary General Yeruham Meshel has demanded monthly payments of C.O.L. increments, pointing out that the January index increase would probably be even more than the December figure as prices had risen by about seven percent during the first two weeks of the month.

Economists are now working out the C.O.L. increment to be paid with January salaries for price rises during the last three months of 1983. It will probably be between 24-25 percent.