Israel faced new wage and price spirals today as the Manufacturers Association and the Histadruth, the Israel Labor Federation, signed a new cost of living agreement under which salaries will be raised 6.4 pounds ($17.90) per month.
The manufacturers had refused to sign the new agreement without assurance that the Government would permit increases in the prices of manufactured goods. They signed, however, after receiving assurances from the Trade Ministry that prices of certain commodities could be raised if the manufacturers’ demands for increases were found justified.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
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.
