The economic price: After 100 days of the war, the people of Israel are experiencing and will unfortunately experience a wave of price increases in a variety of consumer areas.
In light of the price increases already announced by various food companies, we will soon notice additional products that will become more expensive and make our expenses much greater.
One of the phenomena encountered by shoppers in food chains during the war was the increase in prices of a variety of products and a paucity of promotions. In addition, several companies, including Shastowicz, Sugat, Yachin and Beit HaShita, recently announced price increases due to currency increases, increases in raw material prices, and increases in the prices of agricultural produce against the background of the war.
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According to Price's analysis, many products increased in January 2024 compared to August 2023, before the war. For example, Persian rice has increased by about 17%, olive oil by 9%, dry chickpeas by 14%, red lentils by 11%, ground beef by 11%, fresh chicken thighs by 5%, fresh schnitzel by 9%, whole chicken by 11%, tuna quartet by 5%, white flour by 5% and ground beef by 11%.
A source in the food chains told Israel Hayom that "olive oil has become significantly more expensive. Most of the oil in Israel is imported, and the price abroad has risen by about 120%. This significantly bumped up the price. An increase that could reach 20 per cent. Also, you can see that the supply of olive oil is meager and there are not many varieties on the shelf.
A member of the Houthi security forces in the background of a ship in the Red Sea, photo: AP.
"On top of that, all legumes have become more expensive. The leader of the category is Sugat, and they have raised prices in Israel because of the increase in currency rates. The story with the increase in sea freight prices, following the Houthi threat, is going to increase the price of fresh meat once again, because there is a big shortage and the cost of transportation has tripled, so that the average price per kilogram has increased."
According to the source, "It should be assessed that we will see price increases. In recent days, currency prices have risen and climbed again, the cost of transportation has soared, and raw materials have become more expensive. The shortages will cause further price increases."
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