14 July 2022; MEMO: In light of the global food crisis which has resulted from the Russian war on Ukraine, Israel announced yesterday that the price of regulated bread would rise by 20 per cent, the Economy and Industry Ministry said.
The decision is due to be approved today by the Finance Ministry's Price Committee and will come into effect on Sunday.
According to the Times of Israel, the price hike will include supervised bread products – sliced and unsliced white and wholemeal loaves.
Economy and Industry Minister Orna Barbivai stressed that basic bread products will still be under government supervision, preventing further price hikes by retailers.
"I intend to continue to work to improve the system and guidelines that relate to price hikes of supervised products," the Times of Israel reported Barbivai saying yesterday.
"I call on retail stores to consider a partial increase of the price of supervised bread so as to show some consideration for consumers," she said.
Barbivai added: "Supervised bread is a basic consumer good that provides many families with significant nutrition and as such must be available in every household."
She promised that "once the prices of raw materials go down again, I will pressure the Price Committee to lower the price of supervised bread."
This came two days after an announcement made by Israel Electric Corporation that electricity prices would rise by nearly ten per cent next month.
