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Opinion

A voice of sanity

August 1, 2011 15:12
2 min read

Fischer: Market concentration cause of high prices
By NADAV SHEMER - JPOST website
08/01/2011 12:15

Bank of Israel Governor Stanley Fischer admitted Monday that nationwide protests over the high cost of living took him by surprise, and said that the problem was mainly a result of market concentration.

Speaking at a press conference at his Jerusalem office, Fischer called for the establishment of a committee to investigate the disparity in prices between Israel and the rest of the world, saying, “I assume the problem is a lack of competition.”

He added, “We pay too much for vehicles because of the import tax, among other things. My impression is that the prices in Israel are very high.”