Dark common bread
Photo: AP
Prices of regulated bread drop even more
Finance minister signs order reducing prices of five types of bread by 4.35%
Industry, Trade and Labor Minister Eli Yishai last Monday signed an order reducing the prices of subsidized bread by 4.35%. The price reduction took effect after the order was signed by the finance minister pn Sunday.
The reduction, which is derived from the ongoing drop in the prices of wheat and fuel, applies to five types of bread, which constitute 17% of the bread supply in Israel: Common dark bread, white bread, sliced common dark bread, sliced white bread, challah or yeast pastry.
After Minister Yishai took office in May 2006, bakers increased the prices of regulated bread by 7.11%. The last time the bread prices were reduced was in January 12, by 2.7%.
The bakers, who opposed the price reduction, petitioned the High Court of Justice. The judges issued an injunction freezing the reduction orders, and later accepted the industry and finance ministers' stance and let the drop in prices take effect.
