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Cost of Living Index Up by 1.2%

The cost of living index in Israel rose by 1.2 percent for August, the Central Bureau of Statistics has announced.

Housing costs were the main factor for the rise – prices went up in August by 2.9 percent and were responsible for 0.7 percent of the index’s rise.

Inflation since the beginning of the year now stands at 6 percent. The projected inflation rate for 1995 stands between 8 percent and 9 percent.

It was unclear whether the Bank of Israel would raise interest rates as a result of the higher index.

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