Data from Egypt's General Mobilization and Statistics Authority showed that the inflation rate in Egyptian cities rose 38 percent in September year-on-year compared to 37.4 percent last August. Food and beverage prices rose 73.6 percent year-on-year in September. On a monthly basis, prices in September increased by 2 percent, up from 1.6 percent in August.
Within the framework of controlling prices and reducing inflation rates, the Egyptian government launched an initiative to reduce seven basic food commodities by 15 to 25 percent in the Egyptian markets. The list of commodities whose price has been agreed to be reduced includes: sugar, oil, lentils, beans, dairy, cheese, and pasta, and the prices of poultry and table eggs will be reduced by 15 percent.
Egypt, which is facing a crisis related to the scarcity of the dollar, has witnessed successive and violent waves of price hikes that have moved from appliances to the meat, vegetables, and medicine market.
Source (Al-Arabiya.net Website, Edited)
