Price of challah now NIS 4.85
Photo: Yaron Brener
Subsidized bread prices down 3.58%
White, dark bread now cost NIS 4.46. Prices reduced following drop in wheat prices
The prices of subsidized bread were reduced Thursday by 3.58%, following the drop in wheat prices. White and dark bread now cost NIS 4.46 (about $1.18) instead of NIS 4.63 ($1.22), and challah now costs NIS 4.85 ($1.28) instead of NIS 5.50 ($1.45).
Industry, Trade and Labor Minister Binyamin Ben-Eliezer and Finance Minister Yuval Steinitz signed an order for reducing subsidized bread prices following an ongoing drop in bread production costs.
Shabtai Levy, the Industry Ministry's supervisor of prices, said that the drop in bread production prices since July 2009, which reached its peak at the end of September 2009, pointed to the need to reduce prices.
Every month, the ministry conducts an updated calculation of the production costs and its results are brought to the attention of bakeries.
The prices reduction followed a moderate rise in the production costs in June 22, which led to a 3.25% appreciation in the prices of bread. In July 1, subsidized bread prices rose by 0.866% after the value-added tax was raised from 15.5% to 16.5%.
Earlier, on January 12, bread prices were reduced by 2.7%, and on March 15 they were reduced by 4.35%.
