BREAKING NEWS

Ministry: Eggs, milk, chicken prices to rise up to 17%

By JPOST.COM STAFF, GLOBES

AUGUST 15, 2012 14:13

The cost of eggs, milk and chicken were expected to rise up to 17 percent by the end of the year, the Agriculture Ministry announced Wednesday in an economic forecast.

The study conducted by the ministry's Research, Strategy and Economics Division, said that the price increases can be attributed to drought conditions and rising costs in commodity exchanges. Grain prices, it added, were expected to increase by 50 percent by the end of the year.

Consumers, the study said, can expect to see a 13% rise in milk prices and a 14% increase in the price of chicken and turkey. The largest price increase outlined in the report, however, was for eggs, which it said could become 17% more expensive.

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