August brings a slew of cost of living changes, with power bills up by 8.6%, and a 4.9% jump in the price of milk; tighter controls on cash payments come into force
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Milk for sale at the Rami Levy supermarket in Jerusalem on July 17, 2022. Photo by Yonatan Sindel/Flash90 *** Local Caption *** רמי לוי קניות אוכל מוצרים קונים ישראלים עובדים בפיקוח פיקוח ממשלתי חלב ירושלים

The first day of August brought a range of cost of living changes in Israel that pushed up electricity prices and the cost of milk, but made gasoline cheaper along with public transportation.

Price-controlled dairy items rose by 4.9 percent on Monday as agreed on last week by the Finance Ministry and milk producers. As a result of the change, a liter of milk will rise to NIS 6.23 ($1.84), and 28%-fat yellow cheese, known as Emek, will be NIS 44.79 per kilogram.

Power prices rose by 8.6%, slightly less than the initial 9.6% as announced by the Electricity Authority early last month.

In contrast, gasoline prices in Israel dropped by around NIS 1.50 ($0.44) per liter at midnight after having risen steadily in recent months.

Israelis will pay an estimated NIS 6.54 (approximately $1.92) per liter of gasoline, instead of July’s NIS 8.08 (approximately $2.37) — a record high not seen in Israel since 2012.

“We are all aware of the rise in prices due to the global economic crisis,” tweeted Finance Minister Avigdor Liberman.

“To my regret, the price of electricity went up overnight by NIS 0.0491 per kilowatt-hour,” he wrote. “It is important to understand that the price increase is due first and foremost to the global price of coal, which rose since the start of the year by 180%.”

Finance Minister Avigdor Liberman speaks during a faction meeting at the Knesset on June 27, 2022 (Olivier Fitoussi/Flash90)

Liberman said that electricity prices in Israel are low compared to other countries and that efforts were made to keep the price rise as low as possible.

With calving underway, dairy farmers are being urged to plan ahead to combat feed shortages.

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