Cost of Living Index Rises 1 Percent

The cost of living index for May rose by 1 percent, which is higher than expected, the Central Bureau of Statistics announced last week.

Housing prices, which went up by 1.6 percent, were the main factor accounting for the increase.

Inflation for 1995 now stand at 2.2 percent, the bureau said.

Jacob Frenkel, governor of the Bank of Israel, said he hoped that a target of 6 percent to 9 percent inflation for 1996 could be met.

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