The Finance Minister seeks controls on canola oil, whole wheat bread, yoghurt, frozen vegetables, toilet paper and other items.
Minister of Finance Yair Lapid is considering price controls for a series of products in the framework of the effort to lower the cost of living.
Lapid asked the price committee to consider imposing price controls on the following items: canola oil, whole wheat bread, yoghurt, processed dairy items, soy milk, frozen vegetables, and toilet paper.
“There is no avoiding the use of the toughest measures, including price controls, in order to restore prices to a level that the public can afford,” Lapid wrote in a letter to the price committee chairman. “Our goal is to obtain a lower level of prices that will provide people with purchasing power similar to that in the developed countries.”
The Finance Ministry press release said, “The list of products is based on an initial examination by professional parties in the Finance Ministry. The change in prices in recent years was assessed, with an international comparison, and the degree of concentration in each segment was evaluated.”
The Finance Ministry also mentioned that electricity prices are expected to fall 12-15% in January, and water prices will drop at least 10% during 2015.