41,11WONIIINAWISINifiNWONI.
GIGANTIC SAVINGS!
V•csot CovelVA
ings. But he said Israeli
publishers told him Ameri-
cans did not want to be
reminded of the war because
of the failure to remove
Saddam Hussein from power
and the plight of Iraqi
Kurds.
After sending photocopies
of letters and drawings to
Shapolsky Publishers in
New York City, Mr. Fieldust
was given the green light to
put together a book. It will
contain about 100 drawings
and letters.
"The publishers were so
amazed to look at the draw-
ings," he said. "They were
very impressed."
Besides thanking soldiers,
Mr. Fieldust said he hopes
the book "makes Americans
feel that Israelis appreciate
their efforts in the war."
❑
Cost Of Living
Up In Israel
Tel Aviv (JTA) — Israel's
cost of living index for July
was up 3 percent, a rise
significant enough to pro-
voke consternation at the
Finance Ministry.
Many at the ministry
feared the higher-than-
anticipated rise heralds a
new upward tendency in
Israel's inflationary spiral.
Most of the rise — 2.4 per-
cent — reflected an increase
in construction and housing
costs. Building costs them-
selves rose 10.7 percent.
Professor Ya'acov Frenkel,
who took over as head of the
Bank of Israel only six hours
before the July figure was
announced, argued that the
news was not all that bad.
While conceding that in-
flation could now well equal
20 percent for the year, he
pointed out that the lion's
share of the July increase
was due to increased hous-
ing costs. Inflation could
therefore be held com-
paratively low, he reasoned,
simply by restraining con-
struction costs.
The bank's outgoing - gov-
ernor, Professor Michael
Bruno, called for a drastic
housing budget cut because
fewer Soviet Jews are mak-
ing aliyah. He urged the
government to pare down
the incentive programs to
building contractors because
the volume of building will
not be as large as expected.
The Histadrut, the
Employers Association and
the Manufacturers Associa-
tions have all called for
emergency measures to hold
down annual inflation.
Employees will receive a
4.8 percent wage increase in
August, due to be paid on
Sept. 1.
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