Supermarket Basket Prices Soar 15-20% in Four Years, Report Finds
Translated & summarized from Maariv by baba
A new report indicates that the cost of a supermarket basket has risen by 15-20% in the last four years, a significant acceleration from the previous period's 3-4% increase. Professor Itai Attar attributes this surge to supermarket chains exploiting the situation and criticizes government policies for hindering competition. Attar stated that addressing the high cost of living requires intervention from the Finance Minister and Prime Minister.
The story in 5 lines · by baba
- Supermarket basket prices have jumped 15-20% in the last four years.
- This recent price increase is significantly higher than the 3-4% rise seen in the prior four-year period.
- Professor Itai Attar accuses supermarket chains of exploiting the situation to raise prices.
- Attar criticizes the government for taking steps backward in promoting market competition.
- The high cost of living is described as a national problem requiring top government intervention.
The cost of a typical supermarket basket has surged by 15-20% over the past four years, a stark increase compared to a previous 3-4% rise in the preceding four-year period, according to a new report. Professor Itai Attar, who has been tracking the prices of 80 popular products across supermarket chains for eight years, stated that the significant jump, particularly evident from 2023 onwards, is deeply felt by consumers.
Attar contrasted the recent price hikes with the period between 2018 and 2022, during which prices rose by only 3-4%, despite global challenges like the COVID-19 pandemic, supply chain disruptions, and international food price inflation. He suggested that in recent years, supermarket chains and suppliers have exploited the situation, noting a decline in public and media scrutiny that previously acted as a deterrent against price increases.
Furthermore, Attar criticized the government's policies, arguing that instead of promoting competition, it has taken steps backward. He cited the cancellation of a kosher certification reform and the postponement of a reform in the egg market from 2032 to 2042, allegedly due to pressure from industry representatives. Attar also pointed to government measures like fuel tax reductions, which he described as "election economics" that shift the burden to other sectors like education and welfare.
He emphasized that tackling the high cost of living is a national issue requiring the attention of the Finance Minister and the Prime Minister, and that while some price drops have occurred, such as at Carrefour, more substantial solutions are needed.
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