Krembo Leads Off Unilever Price Hikes

By Hamodia Staff

YERUSHALAYIM — The ever-popular chocolate-coated marshmallow treat Krembo will be the first of Unilever’s products to see a price hike this fall, The Times of Israel reported on Monday.

Krembo will start off the next round of price rises on October 2. Other company products, including a number of cereals, will see higher prices November 1.

Unilever, the country’s sixth-largest consumer-goods manufacturer, said it was forced to raise prices after a “continuous increase in various costs” in the production process.

Unilever assured the public it has done everything possible to keep the price increase as limited as possible, and that they “do not reflect the full scale of the cost increase in recent years, and Unilever will continue to absorb part of these costs.”

Other companies have also been raising prices. Diplomat, a major importer and distributor of brands such as Starkist tuna, Kellogg’s products, Oreos, Pringles, Heinz ketchup and Skippy peanut butter, initially announced a price hike, but following a public outcry agreed to delay the increase until after the Chagim.

Kimberly Clark Israel — which distributes brands like Kleenex and Huggies — and Schestowitz, which distributes Oatly, Barilla, Colgate, and Palmolive, also announced price hikes in July.

A survey released by the Israel Democracy Institute in August found 31 percent of voters said the economy would be the most influential factor in casting their vote on November 1.

Israel’s consumer price index (CPI), a measure of inflation that tracks the average cost of household goods like food, clothing, and transportation, is growing 1.1% per month.

The country’s cost of living has been soaring, as inflation passed 5 percent and housing prices rose 17.8% in the past year alone.