Gas prices are expected to skyrocket Sunday night by 24 percent over the same period last year, with consumers forking out another 23 agorot to pay NIS 6.62 per liter for self-serve at the pump.
Those who need help and use full-service – not even available anymore in many areas – will be paying an extra 21 agorot for the privilege.
In November 2020, gasoline cost just NIS 5.34 per liter.
But that’s not all: prices are also expected to spike on electrical products, food, disposable utensils and other items, vehicles and real estate.
For many in the religious community, however, targeting disposables is an even bigger blow; many families use disposable items for their Shabbat meals in order to save on time, water, and even soap expenses.
Add to that the likely price hike on disposable diapers, a mandatory item for any family with babies and toddlers at this point, and the average Israeli family may feel like it is about to face Waterloo.
Eyal Ravid, CEO of the Victory supermarket chain issued an alert on his Facebook page on Sunday morning, warning consumers about rising prices due to new government decisions.
“Tough days are ahead – one might say there is going to be a real tsunami of price increases,” Ravid wrote.
Finance Minister Avigdor Liberman, Housing Minister Ze’ev Elkin and Interior Minister Ayelet Shaked presented an economic plan on Sunday to the government, intended to lower prices, that included a full 17 elements.
Included is a plan to shut down AirBnB rental apartments in central Israeli cities and restore the purchase tax on apartments to eight percent from its current five percent, in hopes of pulling back the rising housing prices and slowing down the market.
But Ravid focused on the bottom line – food and its impending price hikes.
“The government has passed a new tax on disposable utensils alongside another tax on sweet drinks. These are just some of the factors that will weigh heavily on all our pockets.
“And if that’s not enough, with the coronavirus and its aftermath still with us, suppliers have already announced that after a decade of not raising prices, they no longer have a choice.”
In the not-so-distant past, the Victory CEO wrote, before COVID-19 came to Israel, a maritime shipping container filled with products cost NIS 7,500; today, that price has already reached NIS 59,000 per shipping container (from the East). A container from Europe once cost NIS 2,500 – today, it’s NIS 17,000.
“Be smart consumers!” he emphasized. “Buy right! Plan your shopping, make lists in advance, check what goes into your cart and what you eat at home, and manage your expenses and income with an excel sheet.”
For his part, Ravid vowed to “continue to do everything we can to reduce the family basket, provide lucrative deals, fight suppliers and deepen parallel imports,” adding, “Together we will get through this coming period too.”