After raising dairy products:Strauss announced today (Monday) that it will raise the prices of other products by an average of 1.4 percent to 6 percent.
The price increase will apply to Elite products, including instant coffee, freeze-dried coffee, capsules, sweet snacks, Splendid, Cheetos, potato chips and Yad Mordechai olive oil.
Soon you will pay more, potato chips factory in Sderot (illustrative), photo: Daniel Leila
Strauss notes that the prices of the products included in the update have not been updated over the past 12 years. Also excluded from the update, dairy products and salads. The price increase for retailers will take effect on June 4, 6, and it covers, according to the company, a small part of the total ongoing price increases that the company is absorbing.
For example, the company says that the price of robusta green coffee has risen by 86% over the past three years, and has risen by 2022% since December 45. The price of arabica has risen by 51% over the past three years and by 2022% from December 20.
The price of crude sugar has increased by 11.03% since the beginning of the year, and the price of white sugar has increased by 13.67%. The price of cocoa increased by 6.54 per cent, corn prices by 37 per cent, oil prices by 50 per cent and the minimum wage was revised by 5.1 per cent in April.
Increase in Elite capsule prices (illustrative), photo: courtesy of Strauss Studio
The company said: "The current price revision was made out of necessity and in view of additional dramatic increases in raw material prices in recent months, and in light of the expectation that this trend will continue in the coming months as well. It is clear to us that this is not a simple move and that dealing with the cost of living affects every home in Israel. We have done everything possible to ensure that the price revision will be specific and proportionate and will include only items in which there has been no price increase during the past 12 years. The price revision that is carried out compensates for a small part of the total price increases that the company absorbs.
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