Analysis of the Food Price Basket Trends Over Three Decades in Israel

Today, I plan to analyze a dataset obtained from the Kaggle website, titled “Israel Prices for Basic Items, 1983-2022”. In my forthcoming post, I will delve into a thorough analysis of this dataset.

Comprising 144 columns, each column represents the price of a specific food item. Additionally, the dataset consists of 480 rows, with each row reflecting the monthly prices for all the items.

Throughout the last three decades in Israel, there has been a noticeable rise in the prices of fundamental food items, including:

• Chicken Breast (1 kg)
• Instant coffee (200 grams)
• lemons (1 kg)
• Hard yellow cheese from cow’s milk (100 g)
• Frozen beef - ribs (1 kg)

Consequently, I have undertaken a detailed examination of these specific items to delve deeper into the extent of the price increases over the years.

In the upcoming research, my aim is to examine whether there has been an increase or decrease in the prices of meat, chicken, and fish over the span of 10 years, from 2010 to 2020. I plan to conduct two separate analyses, each covering a 5-year interval—specifically, from 2010 to 2015 and from 2015 to 2020.

This analysis is intended to reveal variations in prices within the meat, chicken, and fish section in Israel.

Here are the result I got:

As evident from the upcoming results, there was a significant double-digit increase in the prices of Nile princess fillet fish (frozen) from 2010 to 2015, amounting to 43.92%. Additionally, various meat items experienced notable spikes during this period, including ‘Fresh beef for steak - shoulder’ with a surge of 28.74%, and ‘Frozen beef - ribs’ with an increase of 20.06%

Similarly, from 2015 to 2020, the trend continues, with four items - Frozen salmon fish, Fresh tilapia fish, Frozen beef for roasting, and Fresh beef for steak - shoulders - each experiencing an increase of more than 10%.

As noted previously, a substantial increase has been observed in the prices of most items. Now, let’s delve into the dynamics within the vegetables and fruits category. It remains to be seen whether their prices have taken a different direction, or if they have followed a similar trajectory with an upward trend

Let’s see the result’s we got here: