Israel sees sharp rise in prices, decline in spending due to war

More than 100 days after Israel waged its ruthless war against the besieged Gaza Strip, Israelis are experiencing a rise in prices and have reduced their outgoings, Israel Hayom newspaper reported.

According to the paper, several companies have recently increased their prices due to the rise in exchange rate and the prices of raw materials and agricultural products against the backdrop of the war.

A survey conducted by the Israeli online marketplace Pricez showed that many products were more expensive in January 2024 compared to August 2023, two months before Israel launched its genocidal bombing campaign on Gaza.

“The price of Persian rice increased by 17%, olive oil by 9%, dry chickpeas by 14%, red lentils by 11%, ground beef 11%, fresh chicken slices 5%, and fresh schnitzel slices 9%, whole chicken 11%, tuna 5%, and white flour 5%,” the site said.

The paper quoted an Israeli food chain official as saying that the cost of sea transport has increased significantly after the Houthis threatened to target all vessels travelling through the Red Sea and onto the Israeli port of Eilat.

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