August arrived with several price hikes in Israel, including electricity and milk costs.
Government-subsidized dairy products climbed by 4.9 percent, as agreed on by milk producers and the Ministry of Finance. Due to the change, a liter of milk now costs NIS 6.23 ($1.85), and cheese is now NIS 44.79 ($13.28) per kilogram.
But it wasn’t just dairy products that experienced price hikes. Electricity prices shot up by 8.6% as well.
“We’re all aware of the price hikes because of the worldwide economic crisis,” tweeted Finance Minister Avigdor Liberman.
“Regretfully, the price of electricity increased overnight to NIS 4.91 ($.45) per kilowatt hour,” he wrote. “It’s vital to understand that the cost increase is first and foremost due to international coal prices, which went up since the beginning of the year by 180%.”
Naturally, these price hikes will affect Israel’s lower-class families the most. The cost increases are already proving too much to handle for many Israelis who could barely make ends meet even before the price hikes went into effect.
That’s why the Colel Chabad organization and its operations to provide food to the Israelis who need it most is a critical source of assistance at this time. They give supermarket gift cards and deliver groceries to hungry families throughout Israel.
Can you help Colel Chabad feed Israeli families unable to pay their bills?
If you can, please consider donating to Colel Chabad today – a great way to bless Israel amidst this challenge of inflation.