Lapid: Arrival of French food giant will reduce living costs in Israel

i24NEWS

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Carrefour supermarket in Brussels, Belgium, on February 24, 2010.
AP Photo/Virginia MayoCarrefour supermarket in Brussels, Belgium, on February 24, 2010.

'It can’t be that in a rich country there are citizens who can’t make ends meet,' Israel's prime minister says

The arrival of the French food chain Carrefour in Israel will have a positive effect on the climbing living costs in the country, Israel’s Prime Minister Yair Lapid said on Sunday.

His statement came after the Dutch-owned global supermarket chain SPAR announced that it would open branches in Israel.

“We expect additional large companies to follow it,” Lapid said at the weekly cabinet meeting in the Israeli parliament, emphasizing that the opening of the French supermarket chain will "lower the cost of basic goods."

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“It can’t be that in a rich country there are citizens who can’t make ends meet,” he continued.

Additionally, Lapid stressed that the government supports competition, warning that "whoever raises prices irresponsibly is liable to get up in the morning and find themselves with unexpected competition. This government believes in competition and opening markets and it will not hesitate to act," Israel's premier said.

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In recent months, increasing living costs in Israel have triggered massive demonstrations in the country, with the Covid-19 pandemic and the Ukraine war worsening the situation.

Israel is one of the most expensive countries to live in world wide, with overall prices rising by 1.2 percent each month on average since February 2021, a report by the Central Bureau of Statistics (CBS) revealed in April.

Carrefour is expected to open its first stores by the end of this year, with some of its products to be sold already this summer in the Israeli supermarket chain Yeinot Bitan, according to Globes.

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