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Food Prices Set to Rise as Flour and Egg Costs Jump
Prices for flour and eggs in Israel are set to increase by up to 14% next week, with regulated egg prices rising 2.1% on November 1st. These hikes are driven by global wheat price surges due to the Russia-Ukraine war and increased production costs.
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What happened
- 01Flour and egg prices will increase by up to 14% next week in Israel.
- 02Regulated egg prices will rise 2.1% on November 1st, impacting costs for consumers.
- 03Global wheat price surges due to the Russia-Ukraine war are a key driver of flour cost increases.
- 04The price hikes are expected to trigger broader increases across the food market.
- 05Manufacturers face rising costs for fuel, property taxes, and labor, in addition to raw materials.
The price increases are expected to spread to other food products like bread and pastries, with potential impacts on dairy and chicken prices as well. The timing, shortly after elections, raises concerns about producers exploiting the political transition.
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