November 2, 2022

Israel Adopts American and European Standards to Fight Inflation

Jerusalem...Just days before the elections in Israel, there was an intense effort to control inflation, particularly food prices. Prime Minister Yair Lapid explained that "the government has made it a point to cut excess regulation in order to ease the cost of living and open the market to competition.” He added that the process of adapting standards to the European standard will bring down the cost of living and the opening of the food market to competition. Chairman of the Regulatory Authority Yoel Briss concluded: "Adapting the regulation in the food sector is important and precedential. The implementation of the move will significantly reduce regulation in the food industry and will contribute to our fight to lower the cost of living in Israel.”