Rav Maor Kayam, a rav in Har Bracha and head of Machon Har Bracha, publicized a psak by which you would no longer need to sift your flour. Even in Israel.

Rav Kayam explained that in the past it was necessary to sift all flour the reality is different today. Our storage capabilities are much better nowadays. Flour produced by reputable companies and sold i responsible stores has the status of chazaka of being clean from bugs and worms.

Rav Kayam adds that even if you occasionally find  bug in your flour, that changes nothing and you still do not need to sift. The flour in general has a chazaka of being clean, and the minority in which bugs are found do not hurt that chazaka. Rav Kayam qualifies that by saying that after buying your flour you need to store it in a place and way that will not allow bugs to infest it - for example, in the refrigerator or freezer.

Another related issue is that even if you stop sifting your flour, what if you are baking for other people - do you need to tell that the flour is not sifted and let them decide whether or not to eat it?

Rav Kayam says that until recently it was necessary to sift, and people continue sifting it today even though it is no longer necessary. So, being that it was until recently a "halacha psuka", it is appropriate to be considerate of other people and either tell them or sift it when baking for others. He leaves this point as a question that needs more research.

Another added qualification is that flour that is sold but sits on the shelf for a very long time or other situations that might be problematic should still be sifted. As well, businesses should be more stringent and continue to sift, depending on their storage capabilities. The idea being, as long as storage realities are good, the flour is clean and there is no need to sift and even finding a small amount of bugs does not change that reality.
source: Srugim