Israeli bread prices set to rise13 August 2012The Israeli government has blamed higher wheat and fuel costs for its decision to increase the price of state-controlled bread by 6.53%. The Industry, Trade and Labour Ministry said on Monday that the first rise in 18 months is a direct result of higher raw material and transportation costs. In Israel, the government controls the price of basic white and brown bread. The cost of non-controlled breads is also expected to increase in a country which has witnessed widespread protests against food prices since June 2011. "I think that prices of all kinds of bread will go up in similar rates," Yaron Angel, Angel Bakery’s chief executive told Israeli newspaper Haaretz. “Breads which are not under the supervision of the state are also made from the same ingredients. "Hourly wage went up, electricity prices went up. When an increase in flour and gasoline prices hit us, we have no choice (other than to raise prices). We are losing money – we lost in 2011 and in the first quarter of 2012." | |
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