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  Tamuz 27, 5772 , 15/08/12

Atty Slams Bread Price Increase ‘Trick’

Attorney Aviad Visoly, writing for Arutz Sheva, said Wednesday that the recent price hike for bread was a “trick,” and was not justified. Visoly looked into the figures and determined that a recent increase in the price of flour should not mean a 6.53% rise in the price of bread.

The cost of flour accounts for just 10-15% of the cost of bread, he said, meaning a `12.5% increase in what bakeries pay for flour should mean a 0.10 shekel rise in the price of bread, not a 0.49 shekel increase. In addition, he noted, the price of flour is known to fluctuate, and has hit its current rate of $270 per ton in the past without the cost of bread rising as it did this week.

Other archived news briefs:Aug 15 2012, 09:39 AM, 8/15/2012