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Israel: Dairy Prices To Rise By Nearly 5%

August 21, 2022 - from Matzav.com:

"Israel’s Dairy Board today approved a price hike of 4.9 percent for dairy products country-wide. This comes as inflation rocks the Jewish state, causing the price of goods to rise dramatically.

"Reports note that the board initially discussed a 14 percent hike, but negotiations with the Finance and Agriculture Ministries resulted in the lower hike. The talks took several months, held up by the dispersal of the Knesset.

"A reason for the hike is due to the price of grain used to feed livestock rising significantly – a result of Russia’s invasion of Ukraine, which began nearly six months ago.

"The milk price will remain at the inflated rate until May 2023 before reverting to the original price, with a possibility of being raised again.

"Although still far below the United States’s inflation rate – which stood at 8.5 percent – Israel’s rate of inflation in July was the highest it’s been for several decades, standing at 5.2 percent."