In a recent audit conducted by the Consumer Council, it was found that prices of 770 popular items sold in Israeli retail chains have increased by 2%. This is a 6% increase compared to May 2023 and represents a concerning trend given the current annual inflation rate in Israel, which stands at 2.8%.
This rise in prices of essential items is more than double the current inflation rate, putting additional financial strain on consumers. A similar audit conducted in 2023 revealed that the cost of the consumer basket had risen by 5% compared to figures from 2022. This highlights the need for continued monitoring of prices in retail chains to ensure that consumers are not being unfairly impacted by rising costs.
Policymakers must address the factors contributing to this price increase to help alleviate financial burdens on households. It is important for them to take action to curb inflation and protect consumers from unfair price increases. The Consumer Council will continue to monitor prices and advocate for policies that promote fair pricing and protect consumers’ financial well-being.
