The economic reality in Israel, just before the end of 2023, is unbearable for tens of thousands of citizens. The residents evacuated from the Gaza envelope and northern communities are groaning under economic distress, as are thousands of reservists who left their jobs to fight in the battles in the Gaza Strip and on the northern border. Many business owners also report difficulty maintaining their business due to the situation in Israel.
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The discouraging economic atmosphere did not prevent giant importer Shastowitz from announcing today to retailers that it would raise prices on imported products by an average of about 10%. These include toiletries and food products from the following popular brands: Ajax, Palmolive, Colgate, Barilla and Master Chef.
The company says the price increase was planned a long time ago and has been repeatedly postponed. The current increase applies to 15% of products, at an average rate of 10%, and will take effect in February.
Supermarket, photo: Oren Ben Hakon
This is the second time Shastowicz has raised prices in 2023. This was also the case in May of this year, when the company announced a price increase of up to 15 percent on some of its products. The company claimed at the time that the increase was due to a significant increase in prices by suppliers, which the company has absorbed so far, and due to the increase in the currency rate, which causes importers significant consequences.
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