TEL AVIV (Jun. 15)
Israel’s cost-of-living index took an exceptional dive during May, dropping by 0.4 percent, the Central Bureau of Statistics announced Monday.
It was one of the rare drops in the index in recent years, and the biggest decline in 23 years since a 0.6 percent drop in May 1969.
The biggest contributor to the decline was a 14 percent seasonal decline in the price of fruits and vegetables.
The average urban family of four persons now requires about $1,800 a month to break even.
Monthly living cost figures for the first five months of 1992 forecast an annual inflationary rate of 12 to 14 percent.