At the first meeting of the Ministerial Committee to Combat the Cost of Living headed by Prime Minister Benjamin Netanyahu, held on Monday, participants were shocked to discover that some of the data presented to them relating to the price level in Israel date from 2017.
When those present at the meeting, including Prime Minister Netanyahu, asked why more recent data had not been presented, Prof. Avi Simhon, chairman of the National Economic Council, replied that the OECD had not yet issued updated data and that they were working on it. The data presented are OECD data comparing the price level in Israel to other developed countries by product categories. This is an objective and comprehensive comparison, but the problem is that the examination is done once every few years, and the last one that came out relates to the validity of six years ago.
"It's being worked on." Prof. Avi Simhon, Photo: Oren Ben Hakon
Even considering the fact that an attempt has been made to present the most objective data and rely on a large and well-known international body, it goes without saying that these figures do not present decision makers with the latest picture of the situation for 2023. Since 2017, the Israeli economy has undergone many upheavals, such as the COVID-<> pandemic, military operations, inflation – all of which of course affect decision-making regarding the cost of living.
However, it should be noted that in addition to the data from 2017, Prof. Simhon also presented the data from 2022 regarding the general price level in Israel compared to the rest of the world – data from the OECD.
Data from 2022 regarding the general price level in Israel compared to the rest of the world were also presented. Tel Aviv, Photo: Yehoshua Yosef
The committee is headed by Prime Minister Benjamin Netanyahu and includes the Minister of Finance, the Minister of Economy and Industry, the Minister of Agriculture and Rural Development, the Minister of Environmental Protection, the Minister of Energy and Infrastructure, the Minister of Health, the Minister of Social Affairs and Social Security, the Minister of Religious Services, the Minister of Construction and Housing, the Minister of the Negev, the Galilee and National Resilience, the Minister of Tourism, the Minister of Aliyah and Absorption, and the Minister of Communications.
In addition, the Prime Minister's Office Director General, the Ministry of Finance Director General, the Ministry of Economy and Industry Director General, the Ministry of Agriculture Director General, the Head of the National Economic Council, the Head of the Budget Division, the Head of the Regulation Authority, the Governor of the Bank of Israel, and the Commissioner of Competition are regularly invited to the Committee.
Wrong? We'll fix it! If you find a mistake in the article, please share with us
