December 2023 Consumer Basket Survey: Prices Increased by 5% Compared to Last Year

by time news

2023-12-29 14:30:04
The Council for the Consumer Basket conducted an inspection last month in December 2023 and found that there was a 5% increase in the average consumer basket compared to December 2022. The inspection compared prices at different chains and in different areas, revealing various findings.

The comprehensive monthly examination of the basket of products, consisting of 820 products with statistical guidance from Dr. Or Katz of Ashkelon Academic College, showed an average 5% increase in prices compared to December 2022, and a 1% increase compared to the previous month. The survey reflects the test day when only networks containing at least 80% of the total products were taken for comparison.

Notable price differences were found, including a Unilever milk chocolate coated biscuit that was sold for 1 NIS in Rami Levy online, compared to 8.37 on average in the Super Pharm chain, representing a 735% difference. Prices for Gillette Fusion razors also varied greatly, with a 68% difference in price between the BE network and Super Pharm.

The survey also found price increases for various manufacturers, such as Tnuva Delicacies, Gad Dairies, and Unilever products. Additionally, prices for different food categories, like flour, sugar, fresh vegetables, and breakfast cereal, increased by 2-4%.

The findings also identified the cheapest and most expensive chains, with Rami Levy being the least expensive and Mega in the city being the most expensive, highlighting a 19% difference in prices.

The Council emphasized the importance of comparing prices to lower the cost of the family basket, as there is still a significant gap between networks, despite some cases showing narrowed gaps. Overall, the annual and monthly price increases call for consumers to be vigilant in their purchasing decisions.
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