The cost of living index rose by 13.5 percent during February, the Central Bureau of Statistics announced here. The increase was as anticipated, due to price rises at the overlap (known in Hebrew as the seam) between the first and second package deals.
The Bureau noted that cost increases due to the cutting of government subsidies, towards the end of February which will be evident in the current March COL calculations, already account for an increase of between six and seven percent for the March COL figure.
In subsequent months the Finance Ministry anticipates a reduction in the monthly increase to single figure rises, indicating what they claim is the success of the economic package deal.
But both the Histadrut and the manufacturers complain that there is still much to be desired in implementation and operation of the agreement.
Employees will receive pay increases of between 14 and 20 percent with this month’s salaries, to be paid on April 1. The basic increase will be 14 percent, with an additional six percent granted to industrial and production workers.
Half of the February increase was due to government initiatives in raising service prices of fuel, electricity and water.
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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.
