Posted on 01/01/23
| News Source: Arutz-7
Osem, one of Israel's largest food manufacturers and distributors, announced it would raise the prices of dozens of products, including pasta and ketchup
Israelis entered 2023 on Sunday with a blow to their wallets as many products and services became more expensive overnight into the new year.
As a result of the war in Ukraine and the energy crisis, the price of raw materials has significantly increased. Subsequently, manufacturers and distributors are raising costs as well.
Osem, one of Israel's largest food manufacturers and distributors, announced it would raise the prices of dozens of products, including pasta and ketchup. Israeli food company Soglowek said it would increase costs by 10 percent. In recent months, major food manufacturers Strauss and Tnuva also raised their prices.
Additionally, the price of self-service 95-octane fuel will increase by 9 cents as the tax benefit implemented by Israel's former finance minister ends. It is still being determined whether incoming finance minister Bezalel Smotrich will extend the benefit. As a result, the maximum price per liter of this type of gasoline will be at most $1.97 per liter, and the surcharge for full service will be $.06 per liter.
The rate of water will also increase by roughly 3.5 percent and electricity by a whopping 8.2 percent. Cumulatively, electricity will have been raised by 20 percent per year - so a bill that costs $113 will now have an additional $22 added compared to 2021.