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Price Index Co0.Ani.T Pri 24 - THE HERALD. Mon.. Aag. M. IWl routes for area towns ... page 16 plear|fonlght; sunny Wednesday — page 2 anrl|P0tpr mmlh Price index Co0.ani.t Pri.. Iwlw Inflation rebounds ^sharply into double digits troE M on (or My i | a gallon. UR 1.1W a l l WASHINGTON (UPl) - The Con- ment. Compounded for 12 months, it costs, particularly bus fares and of the house and land, mortgage in­ was up 15.2 percent— more than any used car prices. The mass transit terest rates and maintenance, were However, the costs of electricity iumer Price Index shot up at an an^ and natural gas rose sharply. ■ p n ii nual rate of 15.2 percent in July, a month since the 17.5 increase in costs during the month were up an up 2.1 percent. They contribute 23 MO sharp rebound of inflation into dou­ March of last year. extraordinary 14.7 percent. If main­ percent of the total index. Medical care was up 1.3 percent in arm iii ble digits caused mainly by rising The major change for the month tained over an entire year, that rate The increases more than offset July. Clothing was half a percent food prices, the Labor Department was in food prices, up 0.8 percent for would mean the national average the continuing good news about more expensive on average. Enter­ the month. The overall inflation in­ bus fare would nearly double in moderating energy prices. Overall tainment grew 0.2 percent more OUR 30 MONTH tM 9niii!ii reported today. At the same time, the government dex had benefitted from several twelve months. Used car prices energy price increases were only 0.4 expensive. months of almost no increase in were up 2 percent for the month percent for the month, with gasoline illllllllli reported the real earnings of The Consumer Price Index BOND MARKET CD Americans plunged by more than it foodpiices and there were some in­ alone. dropping a full 1 percent. The The housing component of the in­ average price for all types of gas­ reached 274.4 in July, which means t40 had in any month since May of last dications the July peak may be tem­ porary. dex, which had been going up for oline dropped about a penny, to it cost $274.40 to buy the year. government’s “market basket” of LAST WEEK IN JULY The Consumer Price Index for ' Other factors that combined several months, increased another $1,353 per gallon during July. (frithtidling) iiiiiliiiil during July to the disadvantage of 1.6 percent for July. The costs of Fuel oil also dropped a penny a goods and services that cost $100 in # A W P • rm ^ M «l i July was up 1.1 percent for the 1967. leso 1SS1 month alone after seasonal adjust­ the consumer were transportation home ownership, including the price gallon, to an average price of $1,251 Amuml B^ecdve Interest £tat$ Annual Yield t2.00K 1Z.M% Begin, Sadat Stocks NOW THROUGH AUGUST 31 (ceiling lifted) start talks plunge Annual » Effective NEW YORK (UPI) - Stock Interest Rate Annual Yield prices, coming off one of the worst on self-rule days’s in Wall Street’s history, plunged in early trading today on the 15.90% 17.49% government’s report that double­ ALEXANDRIA, Egypt (UPI) - Begin was bringing three hard­ digit inflation had returned. Israeli Prime Minister Menachem line members of his new cabinet to The Dow Jones industrial Begip arrived in Alexandria today the summit — Foreign Minister average, which fell 20.46 points (or a two-day summit with Egyptian Yithzak Shamir, Interior Minister Monday, was off 7.99 points to 892.12 President Anwar Sadat on their and Chief Autonomy Negotiator shortly before 11 a.qi. EDT. The chief unresolved issue — self-rule Yosef Burg and for Vbe first time, Dow’s close Monday was the lowest " for t » ‘DdfMuie'IlDnlstewAriel Sharop.-As- since it reached 891.13 on July 11, Begin arrived from Jerusalem at agrlcnlturer tniiiTsfef, Sharon 1980. The Monday loss was the worst 5:05 a.m. EDT and was to meet with niasterminded Israel’s settlement since it fell 23.80 points on Jan. 7. drive in occupied Arab territories. Sadat at his waterfront residence in Declines were leading advancing this Mediterranean resort city at The autonomy talks, part M the Camp David Accord that was the issues by a wide margin and volume 12:30 p.m. EDT. was fairly active. Israel’s Foreign Ministry in­ basis for the peace treaty, opened in dicated the Jewish state wanted a May 1979 and lumbered on for more Investors were disturbed that the Savings Bank speedy resumption of the autonomy than a year without tangible government reported consumer talks on granting self-rule to 1.2 progress before Egypt suspended prices rose 1.2 percent in July, the million Palestinians in the occupied them last summer. ’Ihe Palestinians largest rise in more than a year, or of Manchester West Bank and Gaza Strip. But have not participated. an annual rate of 15.2 percent in con­ Egypt appeared in no hurry to Sadat, who began the peace sumer prices. The report indicated resume the talks It broke Off last' process with his trip to Jerusalem in . the FMeral Reserve, which has M ancbcM er: Main Street (Main Oflice); Purnell Place (Drive inti summer. November 1977, is eager to bring vowed to fight inflation, will have to Burr Camera Shopping Center: East Center Street; Manchester PUrkade; “We want an ongoing (autonomy) the Palestinians into the maintain a tight credit policy. Hartford Road at McKee; Shoprite Plaza at Spencer; Top Notch Shopping negotiations as soon as possible on Center at North End. E aat H M fo td : B urpsi^ Avenue; Putnam Bridge Plaza. negotiating process, not ministerial The inflation figure also means B oitoa: Bolton Notch at Route 44A. A ndover: Andover Shopping Plaza. meetings every two months,” David the basis of a formula requiring that interest rates are likely to re­ S o u th W in d so r: Sullivan Avenue Shopping Center. Kimche director general of the them to exchange recognition with main high. Most investment com­ Ashford: Junction Routes 44 & 44A.Telephone 646-1700. Foreign Ministry said Monday. Israel simultaneously. munity optimists have given up hope ThtBxpreuBmh Eigyptian officials said they would IsraeU Cabinet secretary Aryeh of lower interest rates amid in­ E astfo rd : M onday* Friday, Rte. I98neallopostoince. Tel.974-3613. first like to see a relaxation in what Naor said Sunday Israel “does have dications the Reagan ad­ S c o t i a ^ : Tuesday & Wtdnesday,across from post oflice. Tel. 423-0523. Egypt considers an intransigent proposals, suggestions and ideas” ministration’s budget deficits would S prag u e: Thursday & Saturday, 18 W. Main St. Tel. 822-6319. .Member F.D.I.C. Israeli negotiating position on on resumption of the negotiations be larger than expected and keep in­ limited administrative self-rule for but he declined to characterize them terest rates at record levels. the Palestinians, z AS **n©w.** Observers were dismayed that Foreign Minister Kamal Hassan In addition to basic dis­ long-term bond prices fell Monday All said, “Before the resumption of agreements, the suspension in the mm to their lowest level ever as in­ any negotiations, there must be autonomy talks was prolonged by vestors found it much more adequate comprehensive prepara­ the presidential election in the z profitable to invest in three-month tion to resolve existing United States, a full partner in the instruments that pay up to 18 per­ that present interest rates will drop s66n, W hefoer you already have an IRA ''differences.” negotiations, and the June elections cent for the dollar. But Egyptian officials warned in Israel. Herald photo by Tarqulnlo Analysts said investors were dis­ it’s a fine way to guarantee yourself a high (Individu^ Retirement Account) or Sadat would reject any attempt by Egypt also wants to give Presi­ turbed by the Fed’s report last week intend to open one, this 30.Month CD >. Begin to link revival of the dent Reagan time, to formulate a Shaping up that the nation’s money supply return month after month for IV i years. autonomy negotiations to comple­ position after his consultations with climbed $800 million following a $5.1 Begin next month and Jordanian nd billion surge the previous week. Here are a few quick facts you should could be a great tax shelter to help you tion of Israeli troop withdrawal Wallace's back as a leg-strotching device. from ^ remainder of Egypt’s Sinai Saudi leaders in the next few Football practice has begun at East Catholic Most experts had been anticipating know about 30 Month Bond Market CDs save for foe future. Ask about it. peninsula scheduled for next April months. -Sadat saw Reagan in High School, and Loo DILoroto uses Chuck a decline. Washington earlier this month. at the Savings Bank of Manchester: , Do you have a Savings Bank of 1W2 under their March 197S treaty. You don’t have to be a big saver to earn Manchester 30 Month Bond Market this big interest. Why, you can earn divi­ CD that’s about to mature? When you J \ dends on this account with a m inim uni renew, be assured we’ll see to it that you Today's Herald Oxford Court goes condominium balance of only $1,000.00. N atur^y, it earn this new higher rate. will be higher but he said the new rental months.
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