Starting 1 January 2014- pricing at 9.99 shekels will be illegal
Starting 1 January 2014, selling an item at a price that uses coins that are not in circulation will be considered deceptive advertising and therefore illegal. Since there are no 1 and 5 agorot coins in circulation, it is impossible to pay the price advertised and it is actually higher than what is advertised. So say goodbye to 95, 97 and 99 agorot, 9.99 shekels, and more.
These prices will still be allowed for services that are measured with meters, such as phones, electricity, water, gas, and prices determined by the government- local or state.
Today, if you pay by cash, the store will automatically round up the fee and the store gains those 1-4 agorot. If you pay by credit card, you pay the exact amount.
The Consumer Protection Authority stated that they recieve many complaints regarding this practice and therefore decided that it deserves their attention.
Rami Levy responds: We use the 9.99 price to show that we have many items for sale that cost less than 10 shekels. Over 80% of our customers pay by credit card so they pay the exact price anyway. We will now raise and lower our prices as needed and it will all balance out.
Superpharm responds: We are happy to hear of the Consumer Protection Authority’s decision to enforce the illegaity of charging prices with coins that don’t exist. Since those coins have been eliminated we have made sure to round down our prices for our consumer, amounting to approximately 1.5 million shekels yearly.