Dairy prices to spike in Israel this week

Israel is braced for another wave of steep food price increases, putting more pressure on the government to live up to its promise to lower the cost of living while policymakers continue to battle persistent inflation, reported Reuters. All four of Israel's main dairies will increase prices this week after state-controlled milk and other dairy costs increase more than 8%. A deal between the Finance Ministry and suppliers has prevented a far steeper hike. Tnuva, Israel's biggest foodmaker that is owned by China's Bright Food and Dairy Co, said products subject to state price controls would go up 8.28%, while unsupervised dairy products would rise 4.65% as a result of the increase in the price of raw milk. Rival Strauss said that as of May 10 dairy prices on products such as cottage cheese and yogurts would go up an average of 2.33%. "The price increase covers only a small part of the total price increase the company suffers," it said. Rami Levy, one of Israel's largest supermarket ...