Subsidized bread
Photo: Shaul Golan
Bread prices to rise by 3.25%
Subsidized bread purchase price expected to increase come on June 22, due to rise in wheat, fuel costs and examination of bakeries' profitability
The prices of subsidized bread are expected to rise by 3.25%, some 15 to 22 agorot (Israeli cents) on June 22, the Industry, Trade and Labor Ministry said.
According to the ministry, the expected price hike stems from the rise in wheat and fuel prices, in addition to additional compensation following an examination of bakeries' profitability.
The prices of dark and white subsidized bread will rise from NIS 4.44 (about $1.11) to NIS 4.59 ($1.15); the price of a 500-gram challah (twist bread) will rise from NIS 4.84 ($1.21) to NIS 5 ($1.26); the price of sliced dark subsidized bread will rise from NIS 6.66 ($1.67) to NIS 6.88 ($1.73), and the price of sliced white subsidized bread will rise from NIS 5.92 ($1.49) to NIS 6.11 ($1.54).
A calculation of the hike rate was conducted by the ministry's Price Supervision Division in early June and was submitted to the Treasury's price committee for approval. The ministry's supervisor of prices, Zvia Dori, is expected to sign the approval to raise prices.
This is the first time bread prices are raised in 2009. This year did see twp price cuts: In January, the price of bread wad dropped by 2.75%, and in March it went down by 4.35%.
