The cost-of-living index soared by 21.4 percent during September, the largest monthly increase yet recorded, the Central Bureau of Statistics reported today. Over the past 12 months, the C.O.L. index has risen by 450 percent, but according to the Bureau the inflation rate for 1984 will be much higher. It is presently at an annual rate of between 900-1,000 percent and the rate in October, to be announced next month, is expected to exceed September’s.
Wage earners will be paid a 17 percent C.O.L. increment at the end of this month. The increment amounts to 80 percent of last month’s C.O.L. increase. Histadrut leaders were not available for comment on the latest bad news. But there are mounting demands for weekly payments of salaries.
Workers complain that by the time they receive their monthly pay checks, their value has declined by 20-25 percent because the C.O.L. increments are derived from a price index 2-4 weeks old.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
