Consumer goods importer Diplomat suspends price hikes

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 Consumer goods importer Diplomat suspends price increases

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Following the announcement of the price increase and harsh criticism from major retail chains, the Histadrut (General Federation of Labor in Israel) and the public, consumer goods importer Diplomat Holdings said it was suspending the move. The company announced that it would not raise prices for its brands until after the Jewish holiday season, which ends at the end of October. The announcement concerns all products that have made headlines in recent weeks due to price increases.

After negotiations with retail chains, the importer decided to provide a discount on goods under the new price list before the end of the holidays, so that the price for the consumer remains unchanged.

The Diplomat said in a statement last night: “The company encourages competition and does its best to deal with it professionally and fairly. Diplomat is making great efforts to avoid price increases, but due to inflation and the global rise in the cost of factors of production, he was only partially able to do so.

Diplomat management stressed that the company must maintain at least a minimum of financial stability in order to look after the well-being of its employees and shareholders, who are part of Israeli society. The importer, operating in five countries, has 2,500 employees, 750 of whom work in Israel.

For its part, the Histadrut does not intend to give up its protest against the rise in prices. Last night, representatives of the Histadrut, the Association of Pensioners, social activists and members of the public protested against the rising cost of living near the house of Ron Tomer, president of the Israel Industrialists Association, in the Nevei Avivim district in Tel Aviv. Tomer went out to meet the demonstrators and had a long conversation with them.

Histadrut Chairman Arnon Bar-David said the campaign will continue and expand.

“We will continue the campaign in the coming days until companies realize that the party is over and it's time to stop extorting money from consumers”, – Bar-David said.

The chairman of the Histadrut also warned that if the government did not take measures to resolve consumer disputes, in early September he would convene the leadership of the Histadrut to declare a labor dispute.

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