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Prices Fall after Israel Lifts Gaza Import Restrictions
(Bloomberg) Jonathan Ferziger and Saud Abu Ramadan - At Shafiq Nushtaha's Gaza City grocery, dairy prices have been cut in half after Israel loosened import restrictions in June. As many as 250 trucks a day unload goods at the Kerem Shalom crossing to Gaza, up from 150 in July and about 80 before that, according to data provided by Raed Fattouh, a liaison officer for the Palestinian Authority, and confirmed by Guy Inbar, a spokesman for Israel's Defense Ministry. Daoud al-Saqqa, another grocery store owner, said he has had to cut prices as shelves pile up with chocolate, potato chips, cookies and soft drinks from Israel. Mark Regev, an Israeli government spokesman, said the question of allowing exports from Gaza "is still pending." "You're asking us to take the word of Hamas that there's nothing in a particular shipment that's going to explode when we inspect it?" Regev said. "That's a big risk."