The increase in the cost-of-living allowances scheduled for next July “is most likely to be the last” such increase “in the foreseeable future,” Finance Minister Levi Eshkol declared here today. He added that Israeli industry might be asked also to accept this rise in costs without raising prices.
He said a reasonable measure of economic stability would be achieved in the second half of 1963 as a result of the current price and wage freeze policy. He warned, however, that the public should not interpret this statement as meaning that there would be no isolated price increases.
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