Price-controlled milk
Price-controlled milkNati Shohat/Flash90

The price of price-controlled milk products will rise Monday by 16%, Israel Hayom reported.

A one-liter carton of 3% milk will cost no less than 7.23 NIS, compared to the current 6.23 NIS.

The price hike follows a decision by the Agriculture Ministry's Price Committee, as part of an agreement signed one year ago. The rise in prices stems, among other things, from the rise in the cost of electricity and water.

Over a month ago, farmers warned that the price of dairy would rise. Efforts thus far on the part of the Finance Ministry to stem the price hike and reach agreements with dairy farmers have not yielded results. If the Finance Ministry does decide to reduce the price hike, it is expected to take several weeks before consumers see the results.

Israel Hayom noted that a comparison on numbeo shows that a one-liter carton of 3% milk costs the equivalent of 4.55 NIS in Amsterdam, 5 NIS in Berlin, 3.70 NIS in Madrid, 4.70 NIS in Paris, and 4.65 NIS in New York - despite the fact that inflation in those countries has been higher than inflation in Israel.