Finance Minister Avigdor Lieberman and Economic Minister Orna Barbivay on Sunday admonished food producers and importers over the recent series of price hikes, calling the move "callous" and "cynical" at a time when Israelis are dealing with a global pandemic.
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Both called on producers and importers of foods and other essential products not to raise prices.
Citing global cost hikes and overhead losses, a series of major companies have announced price increases on their products in recent weeks, affecting everyday goods that can be found in nearly every home. They include detergent giant Sano, Osem-Nestle, Leiman Schlissl, the Strauss Group, Diplomat Group, Ristretto, and Shestowitz.
"We will not hesitate to take the steps necessary to ensure a competitive and fair economy," Lieberman said. "I expect companies to reconsider and avoid cynical price increases that will harm the Israeli public," he added.
In a joint statement, Lieberman and Barbivay wrote that the strong currency combined with low inflation and wage increases "meant that products and raw materials brought by your company to Israeli were cheaper for you, without you reducing your prices for the Israeli consumer accordingly and [these prices] were among the highest in the world for these products."
The Competition Authority says that "in recent weeks, data requirements have been issued examining whether the price increases were made in accordance with the provisions of the Food Law." This, following the Competition Authority's investigation that was opened in early November for violating the Competition Law - then the CEOs of the companies Diplomat, Strauss, Rami Levy, Victory and others were invited to the Authority's offices.
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