BREAKING NEWS

Netanyahu: We want food prices to fall

By GLOBES

APRIL 22, 2012 15:25

"I am submitting to the cabinet the recommendations of the Committee on Concentration in the Economy. We want to increase competitiveness in the economy by reducing over-concentration, reducing or eliminating cartels and monopolies. When there is more competition, prices fall," Prime Minister Binyamin Netanyahu said at the start of today's cabinet meeting.

"For years, there was talk about restricting the cartels and monopolies, but we've taken action," said Netanyahu. "We have here a series of very important recommendations. On hand, daring, but on the other also proportionate to ensure continued competitiveness of our economy and to lower the cost of living."

Netanyahu said, "We have already seen achievements. For example, I saw in the Central Bureau of Statistics report that food prices have not risen in the past year, even though the CPI has risen, belying widespread perceptions. But this is not enough for us. We want prices to fall, and cutting prices is achieved by increasing competition. That is why I want to submit the recommendations to the ministerial committee for legislation, move quickly so we can legislate the changes that open the economy to competition, increase competition, and lower prices."

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